Price compression sends a warning signal about a change in motion. Buyers hold control but an exhaustion pattern (a breakout that stalls and reverses) could easily play out. Pullbacks remain buying zones from an intraday perspective at the first pass. The SPX spread expiring today is around 13 points at the 2775 strike leaving us 2788-2762. Sellers may step aside and stretch price higher before engaging again. As previously stated, 2760 keeps us firmly in the hands of the buyers today.