The S&P confirmed a strong closing last night but only a daily closing tonight above 1196,00 will confirm a s/t bottom supporting higher levels suggesting a 1200 overshooting.
The indicators of the daily chart are still well negative while those of the s/t ones turned mixed this morning supporting some consolidation. The rally yesterday formed bearish divergences in the hourly chart supporting a positive tone. Possible declines are therefore corrective and buying opportunities, especially in case of a return toward the 1170 area.
We keep our position for a possible 1200 overshooting!
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