The range has narrowed down over the past two days in the S&Ps and yesterday was inside the range of Wednesday’s trading (US session). This typically leads to increased volatility and the potential for trending conditions. However, it is Friday – usually a low-key day – and April Foool’s Day, as well, so who knows what we will get today!
I’ll be watching for a breakout above or below yesterday’s range: 1327.75 to the upside and 1319.50 to the downside.
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