Liquidation break Thursday flushed out some of the weak longs. The question now is there more liquidation or will the market continue it’s uptrend?

Selling was absorbed a tick above last week’s 2081.75 high leaving a poor low. A further break could target the current trading range low at 2064, and the unfilled Gap at 2058.75.

Trading with acceptance above Thursday’s point of control at 2091 could pressure Thursday’s late short inventory to cover, once again targeting 2100, 2105 and beyond.

Friday is options expiration, option writers could try to hold the market in a tight range or the exact opposite could happen if they can’t – extreme volatility.