After a day of meaningless ups and downs, the futures were drifting toward the lower end of the range early Friday morning. There were two reasons to think a bullish turn was imminent, however: the 1367.00 ‘D’ target shown, and the implied structural support of Thursday’s intraday low. Night owls can attempt to leverage the former, which so far has held as the overnight low. I’d suggest using the 3-minute chart for camouflage, since there are some nicely formed external peaks starting at around 10:15 p.m. EDT. Keep in mind that you’ll be shooting for gains of as much as 30 points, based on the topmost target of several given here earlier. They lie within an 11-point range, the first of them at 1386.25, and the next at 1388.00.
