Fri(Thurs)day Factor.

Here comes the weekend. There goes liquidity.

Dipping back under the 2074.00 bias-up signal at 10:15 wasn”t recovered through 10:30, triggering no-bias. An offsetting test of the 2062.25 bias-down signal is in-play.

Interim support was likely around 2069.00. In fact, its attack reacted up 3 points. But the decline soon resumed and extended under the overnight low down to 2066.25.

Noon hour illiquidity, end of week illiquidity, and 3-day weekend illiquidity each can influence price action. The 2062.25 objective”s test may be accelerated, or a counter-trend bounce could develop.

I could consider the latter being in-play back above 2069.00 (being attacked as resistance now). Or, at least, that”s the lowest I would consider playing it. Even then, with the lower objective in-play, a bounce could be limited to 3 points, if that.

Fulfilling the 2062.25 objective during the noon hour might find it more difficult to trend down further today. Extending deeper would have been likelier if the target were met already this morning. But now, new sponsorship is difficult to attract.

Consider being very careful if trading this afternoon — smaller in size, more selective in positions, tighter in stops, less frequent in re-entry. So long as the trend remains intact, it gets a benefit of the doubt for extending. But less liquidity means more vulnerability to reversing on a headline, and more difficulty in breaking out of a range.