Market heads up into the Mid-channel to make a short-term peak at 2754 and this initiated some profit-taking prior to the extended weekend. It was quite a week after all.
The Osc oscillator makes a Buy Signal in-line with the strong momentum higher.
Whether a pull-back into rising support is required, or whether Friday afternoon's selling is the beginning of another phase down is unclear. Watch the rising support lines and averages for confirmation of a continuation higher or the beginnings of another sell-down.
Price still well above the Buy Signal line and it may just be that the market got a little bit too far ahead of itself.
Be prepared for whatever is coming next, and trade with confidence:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.