Today is an extended Globex session for tomorrow first regular day of the week.  The ES will trade until 1pm ET.  The likelihood of any major move today is remote.  Expect a choppy tape that continues the compression we are seeing on the daily chart.  Each side tried to press its advantage last week but in the end we drifted back to the middle.  The key area to be converted is over 2270 for bulls and now under 2250 for Bears. Bulls had an excellent environment to print new all-time highs on Friday, especially after the strong open.  This did not materialize and we spent the remainder of the day slowing trading back to the open.  The next major catalyst will be the inauguration.  My suggestion is to enjoy the day and don’t get chopped up in a holiday tape.