The S&P US market only chart is still showing a gap down area 1197,30 – 1206,50 and this has to be considered today. The closing was very weak last night suggesting further pressure.
The indicators of the daily chart are now well negative as well as those of the 4h one where we have also oversold conditions. Only the indicators of the hourly chart already returned above the line supporting a possible rebound. In the hourly chart we have even a reversed S_H_S formation with the neck line 1192,70.
While above this line we expect a 1200 overshooting with the 200 hours line at 1232,96 the possible attraction.
We stay long for now.
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FUTURE TREND RESEARCH