The S&P confirmed on Friday a further positive closing but it failed to confirm the break above the 1279,80 level. While above 1267,00 we expect further test on the upside toward the key level at 1282,40. Only a daily closing above this last level will support higher levels suggesting a 1300 overshooting! The indicators of the daily chart are still well positive but those of the s/t ones are still mixed suggesting further consolidation/ correction. In the s/t only an hourly closing below 1267,80 will postpone the move up favouring a retest of the 200 hours line at 1263,17. Only a break below 1260,00 will instead abort further strength causing a drop toward 1240!!
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FUTURE TREND RESEARCH