Either the market continues towards Friday's highs, based on Thursday's breakout and extension into Friday's highs...
or the MAY 50% level @ 4774 pushes the SPI down towards the previous level @ 4689,
resulting in Friday closing in the middle of the 5-day range
SPI Weekly and Daily range
The SPI remained within a tight trading range without moving down or up....
After yesterday's price action, there was a possibility that Friday could move down into 4689 (84 points from last night's highs) and then close back around 4738..
However, it didn't break support @ 11:20, instead it found support and consolidated.
Weekly report out tomorrow
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