The move lower continued for the index Thursday with the 100-DMA currently supporting and the 21-DMA capping. Bulls continue to look for a close above 3199.2 to ease bearish pressure and above 3232.4 to shift focus back to the 3278.6-3331.9 region. Layers of support remain in the 3075.6-3129.4 region (key DMAs & 38.2% Fibonacci retracement) with bears needing a close below 3075.6 to shift overall focus to 2014 lows.
RES 4: 3278.6 High Dec 5
RES 3: 3232.4 Hourly support Dec 5 now resistance
RES 2: 3199.2 High Dec 10
RES 1: 3181.4 21-DMA
PREVIOUS CLOSE: 3159.0
SUP 1: 3129.4 100-DMA
SUP 2: 3104.4 55-DMA
SUP 3: 3091.8 38.2% Fibonacci 2789.6-3278.6
SUP 4: 3075.6 Low Nov 20
