Still upward

Here is a 30 minute bar chart showing day session e-mini trading. The trend of trading ranges is still visibly upward (blue ovals). The biggest day session break has been 16 points and a similar break from today's high would carry the e-minis down to 1053 (purple rectangles). That level is just a shade above midpoint support at 1050 (purple dotted line).

The market has been very erratic today after the release of the employment numbers. But this has only served to highlight a trading range between 1053.50 (the low in electronic trading after the news) and today's high at 1069.50. I don't think we will break out of this range today, but I do expect an upside breakout above 1069.50 next week. I still think this market is headed for 1120 and higher.