It’s Friday, and Fridays can be tough trading. If you are able to trade successfully early in the session, wrap it up and call it a day.

Yesterday saw the four day run of record high closes come to an end in the S&P 500. Even on a down day, the index still held above 1620. It has been a bit interesting to watch this market continue it record run, without much help from the economy. As I have stated in previous commentary, this market appears to be an attractive place to plant funds. The question that pops up now is, is this market still in planting season?

The S&P 500 is up nearly 15% since the end of 2012. With the Fiscal Cliff and sequester resolved or put off for a few more months, the market has seemed to grow without any clouds overhead. Unlike the recent spring weather we’ve had Chicago (rain, rain, and then more rain) the index markets seem to be getting the perfect balance for growth. The Fed has sprinkled rays of sunshine with its continued quantitative easing program. Investors disappointed with their positions in other markets may be helping the up move by moving their funds into the S&P 500, giving the move a bit more fuel to run on.

SIDEWAYS RANGE

I’m looking for a sideways day to end the week. I think the market will trade the range for most of the day. I will be looking to buy dips in the 1618-1620 level, and would look to exit long positions near 1625. A further push up could see the market test near 1631. I’d be willing to take short positions on the first visit there, and look to exit on a visit back to the 1625 area.

RISK DISCLOSURE: THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES AND OPTIONS TRADING. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THIS REPORT IS A SOLICITATION FOR ENTERING A DERIVATIVES TRANSACTION AND ALL TRANSACTIONS INCLUDE A SUBSTANTIAL RISK OF LOSSTHE USE OF A STOP-LOSS ORDER MAY NOT NECESSARILY LIMIT YOUR LOSS TO THE INTENDED AMOUNT. CURRENT EVENTS, MARKET ANNOUNCEMENTS AND SEASONAL FACTORS ARE TYPICALLY BUILT INTO FUTURES PRICES. A MOVEMENT IN THE CASH MARKET WOULD NOT NECESSARILY MOVE IN TANDEM WITH THE RELATED FUTURES AND OPTIONS CONTRACTSTHIS REPORT IS A SOLICITATION FOR ENTERING A DERIVATIVES TRANSACTION AND ALL TRANSACTIONS INCLUDE A SUBSTANTIAL RISK OF LOSS.