How the rally might leverage today’s Friday factors.

Ranging sideways at this morning”s high.

This morning”s noN-bias environment extended higher to within 1 tick of the 2095.00 bias-up target as the bias environment began lapsing. The noon hour”s 2092.25 low  The afternoon”s bias environment began with a dip down to 2091.50.

Essentially fulfilling the target, not extending higher in awhile, narrow ranging through an entire timing window, and a sell-off attempt. Sounds dangerous.

Perhaps.

Meanwhile, the dip down to 2091.50 was actually a blip-down which recovered back to within 1 tick of this morning”s high. Consolidating there for 15 minutes instead of at least probing higher does reflect pessimism, which can be bullish from a contrarian perspective. And this being a Friday, whose morning bias environment trended up to fresh relative highs, printing higher highs during the afternoon bias environment can just extend, and extend, and extend…

One caveat is that probing a fresh high during the bias environment can be bearish if the bias environment were exited back under the noon hour”s 2092.25 low. But that was tried already, and presumably failed.

Don”t underestimate the power of two days of impending illiquidity. A Friday afternoon is a tough time to be fighting the trend.