40+ point balancing day Thursday following Wednesday’s massive short covering rally after taking out the August lows. Thursday’s high at 1883.25 ‘cleaned up’ the poor rally high at 1882.25 left from Friday’s profile where major selling started.

Friday’s trade should also see continued volatility and wide range. With the massive overnight ranges recently it makes it impossible to to try to predict exacting references but we have to start somewhere. The obvious references are Thursday’s high and low – watching for a break out of balance, or breakout failure.

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