Looks like another exciting week is ahead of us. Everything is pretty much rangebound at this point, and I don't think we will see any major breakthroughs.
ES:
Like Brownsfan said, there is a nice range. I don't know if this current resistance will hold, but if prices moves to the upper range resistance at 1375 I will fade the move. If price hits support at 1250, I will fade that move too. The reason I am not doing anything now is because I don't like the R/R, since it's basically in the middle of the larger ranges. If I fade the other levels I can setup tight stops and bigger targets.
NQ:
On the weekly QQQQ calls look attractive, but at a closer look 1750 is in the middle of the range between 1700 and 1800. Therefore it's not a very attractive risk/reward for my money. The daily chart doesn't look as good as the weekly, so that's another factor. If price charges down to 1700 then I will buy calls, but if we get a slow grind that moves with the trendline then I will not do anything.
I am talking to my broker about setting up an options account to trade the options around futures. I don't like the swing trade the futures as the $ loss and reward is too big for me to stomach on a daily basis. But I can handle the options, and that will allow me to trade other markets such as oil and gold without looking for ETFs. So if that happens, then I won't use SPX or QQQQ options but the options underlying the futures instead.
Good trading this week.