"Yesterday's view was to push lower and then get some short-covering off the lows.
If Thursday pushed down into support on Thursday and bounced, then I would say that Friday would continue higher and use Friday's support to trade up towards the 5-day highs.
Therefore I favour a push down into the 5-day lows (if below support), which actually could move down as far as Thursday's support zones.
At this stage treat the US markets on the side of support, whilst it's above then it could go higher (towards 5-day highs)"
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S&P Daily and 5-day pattern
As the chart on the right shows, both the DOW and S&P rise up from support and head back towards the 5-day highs....
And with Contract expiry next week, I would look for a continuation upwards next week depending on price action around the June 50% level next Week's 50% level.
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