Friday's jobs data has everyone's eye, but the market currently suggests that we still have room for one more test of highs before a larger daily correction.

The Dow is looking lower, but the Nasdaq has some decent support still at these levels and can still more easily push to new highs on the day.

Toni Hansen writes that there is still room for more upside early this week.

Toni Hansen does not expect any upside to be sustainable if it begins early in the week.

Toni Hansen describes the current market bias as "hesitantly higher" and will be monitoring intraday momentum changes very closely.

The market range is likely to continue over the next couple of days, but Toni Hansen is still rooting for a better test of the previous highs.

Toni Hansen expects to see some upside spikes within the trading range to regulate the selling and uphold the current bias for a continuation pattern coming out of the range.

Toni Hansen still expects to see the market head for a better test of this summer's highs, and thinks it's likely to happen this coming week.

Toni Hansen's outlook into Friday is now favoring a hold of the 60-minute range since the market did not attempt to move higher on Thursday, but there is still room to push for a better test of the daily highs.

Toni Hansen is still expecting the market to head back into the highs from July, but the pace of the buying is likely to be a lot slower.