The S&P Futures continue to be in Bollinger Band Compression mode.  The bulls have been unable tom sustain any trade above the 2267-2270 area and have made no serious threat to take out the 2277 high.  On the other hand the Bears have been unable to sustain any trade below 2260 as they squandered two pushes into the 2255/56 area yesterday.  The result is a very whippy tape that over time fades back into the middle.  This is the waiting room before band expansion. Anticipating direction for expansion is a very dangerous game that I don't recommend traders play.  The number of handles associated with an expansion are more than enough and the length of time allows you to get involved with trying to guess the break.  For today the parameters are basically identical to earlier this week.  The bulls must convert 2267.50 and make a new all-time high and attempt to engage the upper band.  The Bears must convert weekly pivot and now the 2255 area as well.  The would include the daily middle band (20 day sma).  The side that does their job will be in a good place to take the next leg of the market.  Until then we wait, keep risk tight and size under control.