very interesting point, we are at a substantial resistance at the same time the over night is very happy at these higher levels, so how we act from here is very important to my days trades. levels above are marked but with it being a long weekend not expecting a ton of action. A substantial rejection from this level is most likely to push all the way back through the bigger range over the next few days. ! week ago I said we have not been provided anything bearish and even though we moved to bottom of the range I still say it is not bearish. As far as day trading we will have to watch the open and see if a dominate side emerges. But Friday is not a day to get aggressive.
Trade active:
This pull back could be the extent of the opening pull back so will be looking to see if down side continues or we get a bounce back to overnight highs