Watch out for the Friday Factors

Counter-trend sponsorship is different today.

This being a Friday, the morning”s bias signal is likely to persist through the noon hour. This morning”s bias-up signal triggered late, but it hasn”t been invalidated. In fact, it was validated by probing a fresh high after triggering,

And its 2092.75 bias-up target remains outstanding. The bias-up target doesn”t require being tested. But it”s test is likely so long as price action is within its orbit. And its orbit includes the bias environment”s 2086.50 low.

Meanwhile, yesterday afternoon”s buyers were rewarded with control of this morning”s bias environment, which trended up (higher highs and higher lows). Influences are behaving normally, so other influences should, too.

One of those other influences is the Friday Factor that makes counter-trend sponsorship difficult to generate. So, extending the rally remains likely.

Having said that, back under 2088.25 and 2086.50 would start getting a benefit of the doubt for at least a detour targeting 2083.25-2084.00. But then another Friday Factor would be influential, which is the difficulty of trending Friday afternoon.