Here is a five minute bar chart of the e-minis for the last two day sessions. My original range estimate this morning was 770-795 (dashed rectangle). Two significant things have happened since then that affect this estimate.
First, from its electronic high at 791.75 this morning the market reacted to 781.25 (second purple rectangle. This reaction was the same size as Friday's late reaction (first purple rectangle) and the market proceed to move to new rally highs. This establishes a rhythm to the move up from Friday's low and makes me think that the market can make it to new highs for the rally. There is resistance near 805 and I think that will be the ceiling for today.
The second development was the breakout above the high of a relatively indecisive first 30 minutes of trading. This represented a small trading range and the upside breakout was evidence that selling was still too weak to send the market downward from the open.
In any case I now think that we have seen the day's low and that the day's high will be near 805. If I am right about this I think any reaction will be limited to 8-10 points (third purple dotted rectangle) and will hold midpoint support defined by the first 30 minutes of trading today.