Tomorrow is options ex for Jan and that means anything can happen basically but I have a feeling the market melts up a bit higher Friday. We have a gap fill zone from Wed. on the table up to the 866 area. Pretty good shot we attempt to fill that gap if momentum stays on the bulls' side.
For Friday, the pivot point is at 834. We are trading 845 right now overnight. I would like to go long on a test of the pivot in the morning but I'm not sure it gets down there. If not then we will be looking to buy ambush longs as long as we stay above that pivot. I think a first target could give us 857. And then if we rally higher than that we should hit some selling around that gap fill zone of 866.
If we fail to rally then a break of 826 would make me pretty bearish going to the weekend. We'll see what happens in the morning. Trade safe.