NASDAQ futures are coming into Thursday flat after an overnight session featuring normal range and volume. Price briefly took out the Wednesday low overnight, tagging the Monday gap at 4939 before lurching back to UNCH. At 8:30am Durable Goods Orders came in below expectations.
Also on the economic calendar today we have leading indicators at 10am and a 5-year TIPS auction at 1pm.
Yesterday we printed a very benign normal variation. Morning selling led to a range extension down (sellers became initiative) however, their campaign was short lived, and by lunchtime we were back to flat on the session.
Heading into today my primary expectation is for sellers to work down through overnight low 4937.25 setting up a move to probe value area low around 4926 before two way trade ensues.
Hypo buyers work up through overnight high 4953 and have a go at new highs, a test up through 4966.25. Look for sellers up at 4971 and two way trade ensues.
Hypo 3 strong buyers press up beyond 4977.50 and sustain trade above it, setting up an Obama legacy trend day.
Hypo 4 sellers sustain trade below 4925 triggering a liquidation down to 4900.
Levels: 
Volume profiles, gaps, and measured moves:
bravo with the pic. lol