The S&P confirmed a weak closing last night well below the low of the previous session and below the 200 days line suggesting further weakness. A possible break below 1221,50 will favour a closing of the gap up it formed the last 30 of November, 1221,50 – 1196,50!!
The indicators of the daily chart are still positive but now just at the line while those of the s/t ones are negative supporting further weakness. Bullish divergences in the hourly chart confirm a negative tone. Possible rebounds are therefore corrective.
We closed our shorts last night at the undershooting of the 200 hours line at 1234,00 and wait now for the US opening. We still see further weakness that we want to buy.
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http://www.easyforexnews.net/wp-content/uploads/2011/12/SP500-12.09.11.pdf
FUTURE TREND RESEARCH