The S&P confirmed a small extension yesterday before however turning again below the 200 days line this morning. The closing was however positive.
The indicators of the daily chart are also still positive but those of the s/t ones turned below the line supporting further consolidation/ correction.
An hourly closing below 1242,50 will favour an extension of the correction suggesting a drop toward the 200 hours line, now found at 1209,27. The decline will however find some support already at the support line at 1235,80. The decline is corrective and a buying opportunity for a rally thereafter toward end of the year!!
We wait for lower levels and moved the bid to 1238,00 going even small long!
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http://www.easyforexnews.net/wp-content/uploads/2011/12/SP500-12.06.11.pdf
FUTURE TREND RESEARCH