Where Did The Breakout Start?

Thursday was a squeeze for the last half of the session. The S&P was setting-up for the Friday break-out. That process actually began at 10:30-11:00 AM Thursday. Sixteen hours advance warning!

So here is my question....Was it the "less bad", non-farm payroll report? Or was it just that the market had been in a sideways channel for 3 days?

My answer is.... It doesn't matter! It was a 40 point per contract day! $2,000 per contract.

Every squeeze pops.

Look at the 10,000 Tick and look at the 3000/8000 Tick above. This market was going to break no matter what. The only difference might have been that the market might have gone higher if it was not a Friday in August.

But we had a clear sell signal at 1:30.

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