Just over a 5 point balanced trading range on Friday after setting another new record high at 2555.50. A “look above and fail” scenario is possible with the poor structure below – 4 consecutive daily poor or weak lows.

Carrying the recent small ranges and poor market structure below price forward, the odds of a a liquidation break are increasing. But without the volatility trader have been buying every minor break.

Potental scenarios could include:

– Look above or below Friday’s range and either accelerate/find acceptance at higher or lower prices
– Look above or below balance and fail, targeting at least the opposite end of balance
– Remain balanced

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