Overnight ES action was mixed as Chancellor Angela Merkel polled a narrower margin of victory in the German elections and the far-right Social Democrats gained ground putting the German government into limbo until Christmas. In Japan, Prime Minister Shinzo Abe called a snap national election to dissolve the country’s parliament later this week as he seeks support for a new government to restart the Japan’s failing economy. There’s no US economic data scheduled for today, however there’s Fed speakers in Dudley @ 8:30am EST and Evans @ 12:40pm EST. Also, ECB’s Draghi is testifying starting @ 9:00am EST. Volatility continues to remain constrained to the upside and if Friday’s lows are cleared, then maybe we’ll see some downside expansion today. The bulls often take advantage of no data Mondays, but volatility to the upside will most like remain constrained. Size bias is short into the US session open.