(1286,90)The S&P failed also yesterday to confirm our target finding good resistance already at 1289,20. Only a break below 1279,30 will however support lower levels suggesting a test of the 200 hours line at 1272,97, where we expect decent support. The indicators of the daily chart are still well positive while those of the s/t ones are still showing a mixed picture suggesting further consolidation/ correction. A move above 1289,20 confirmed by an hourly closing will however confirm higher levels. We remain on the sideline for now still waiting for lower levels to buy.
Follow possible updates.
Click here to read the full report: S&P500 01.12