Good morning traders,
The market is approaching that 4535 area I spoke about yesterday, even if it doesn't get all the way there, I feel like we have reached the upper boundary of this distribution.
To me, the market looks like it wants to go higher, but being that it's Friday, I think today is a low volatility type day. If we get some movement above 4535, we may start to hit some stops, giving us fuel to move higher. However, I don't think that is the high probability scenario when looking at what the market is likely to do TODAY.
The market is approaching that 4535 area I spoke about yesterday, even if it doesn't get all the way there, I feel like we have reached the upper boundary of this distribution.
To me, the market looks like it wants to go higher, but being that it's Friday, I think today is a low volatility type day. If we get some movement above 4535, we may start to hit some stops, giving us fuel to move higher. However, I don't think that is the high probability scenario when looking at what the market is likely to do TODAY.