Thursday was a balancing day, and also an inside day, with the high being just a single tick off of Wednesday’s high, making it a weak high with no excess. Thursday’s low is also a poor low, with only one tick of excess.

If price looks above the weak two day high on Friday and fails to find more buying it could bring in liquidation, with Thursday’s poor low and Tuesday’s gap high at 1892.50 in play. Acceptance above 1927 brings the recent rally high at 1940.50 in focus. Acceptance above or below 1919 could provide direction for trade on Friday.

Jobless Claims Friday 8:30 AM ET

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