Thursday the market churned a bit near the opening before tagging the 20 ema on the 60min chart and never looking back. Hitting a high of 867 on the ES before the last hour. At the same time that move broke out of the highs from last week. This market is still technically looking healthy and with options expiration on Friday I think we should get a continuation day into the weekend. Levels to watch overhead are the 875 area where there is considerable resistance. Above that and I think we have a clear shot to 900 on the SPX. Not saying it happens Friday however.
As for Friday, it should be a bit more volatile since its options ex so always trade accordingly. My bias is obviously bullish and the pivot is at 857.25 so I would like to see price above that area for the bulls to stay in charge. Below that mark and we could see most of Thursday's gains retraced. I just think on the outset that 875 area that everyone is watching is too close not to test so we probably will. After that, its anyones guess so be flexible. Trade safe.