The S&P confirmed the expected test interior the gap up formed on November the 30, 1221,50 – 1196,50!! It found however already good support at 1213,00 before rebounding higher. The closing was however below the low of the last few sessions. Still possible a further extension of the decline toward the 100 days line, today at 1194,18, with however good support already at 1196,50 if not even above 1200!! The indicators of the daily chart have turned below the line and also those of the s/t ones are in negative territory supporting further weakness.
We missed to sell the suggested test of the 200 hours line; at this point we wait for a possible extension of the decline to try a long position, but only below 1205!!
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FUTURE TREND RESEARCH