The pressure on 2015 highs to end last week resulted in a break higher to fresh 2015 and 6+ year highs Monday, confirming the bullish focus on the rising weekly trend line extension. Layers of support continue to accumulate with bears now needing a close below last week’s high (3495.3) to ease bullish pressure and shift focus back to the key 3381.3-3444.0 region where the 21-DFMA is located. Key concerns for bulls come from Bollinger band tops.
RES 4: 3790.5 High May 30 2008
RES 3: 3583.6 High June 17 2008
RES 2: 3571.7 Rising weekly trend line extension
RES 1: 3529.0 2015 High Feb 23
PREVIOUS CLOSE: 3519.4
SUP 1: 3495.3 High Feb 19 now support
SUP 2: 3439.2 Low Feb 19
SUP 3: 3413.4 21-DMA
SUP 4: 3381.3 Low Feb 17
