The S&Ps continue to be range bound. Wednesday we looked below 1400 level and found responsive buyers. Both Wed's and Thurs high is poor and the POC is at the top end of the range. Thursday also had a poor low. However, two back to back poor highs usually take precedence have an exponential effect - so odds are they get taken out first. Overnight Inventory is Short to Balanced which may support a move to the upside assuming their is an inventory adjustment at the Open. It all depends on the Unemployment Report due out at 8:30 am EST. Acceptance above Wed/Thur high targets 1422-24 area.
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