A bearish key reversal Thursday sees bears feeling more confident with focus having shifted to layers of support 3075.6-3169.9 where key DMAs and the channel base are located. Bears look for a close below the 200-DMA to add weight to the bearish case and below 3075.6 to confirm a shift lower in focus that then targets 2014 lows. Bulls now need a close above 3235.7 to regain the upper hand and shift initial focus back to 2014 highs.
RES 4: 3302.9 2014 High Sept 19
RES 3: 3301.7 Rising daily channel top
RES 2: 3273.0 High Dec 4
RES 1: 3235.7 Low Dec 3 now resistance
PREVIOUS CLOSE: 3191.0
SUP 1: 3169.9 Alternating daily support/resistance
SUP 2: 3157.2 200-DMA
SUP 3: 3107.8 55-DMA
SUP 4: 3075.6 Low Nov 20
