Recent pressure on the 100-DMA resulted in a dip Friday that found support around the 55-DMA and ahead of the 3106.9 support. Initial resistance is now noted at 3177.0 but bulls continue to look for a close above 3199.2 to confirm a bullish bias and target the 3178.6-3302.9 region. While 3199.2 caps, pressure remains on the 3080.5-3116.8 region with a close below 3080.5 needed to confirm focus on 2014 lows.
RES 4: 3278.6 High Dec 5
RES 3: 3229.2 High Dec 9
RES 2: 3199.2 High Dec 10
RES 1: 3177.0 High Jan 2
PREVIOUS CLOSE: 3139.2
SUP 1: 3116.8 55-DMA
SUP 2: 3106.9 Hourly support Dec 19
SUP 3: 3080.5 Low Dec 18
SUP 4: 3057.1 50.0% Fibonacci 2921.7-3192.5
