The S&P confirmed a weak closing below 1200 finding however good support already at 11955,50 form it started a new attempt on the upside. Only a daily closing below 1195,50 will confirm lower levels toward the support line at 1185,50!
The indicators of the daily chart are still negative but those of the s/t ones turned already above the line supporting a new test on the upside.
We bought back the S&P this morning at 1204,70 after having got stopped out last night!
We favour a test of the 200 hours line at 1224,62.
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http://www.easyforexnews.net/wp-content/uploads/2011/12/SP500-12.20.11.pdf
FUTURE TREND RESEARCH