S&P Futures Update for Oct 19, 2012

This is quarterly options expiration - which can add volatility. Yesterday could have been an outside day but we closed back in Value. My initial focus will be whether we open in or out of balance relative to y'days prominent POC at 1451.75. The overnight inventory is short - good odds that we get an adjustment at the Open. My first downside reference is Wed's pullback low at 1446.25- also very close to the overnight low. If that does not hold then we are looking at Wed's low - 1440.75.