(1282,80)The S&P confirmed a negative closing on Friday managing however to recover from a low at 1272,70. The weekly closing was instead still well positive, even strong. The indicators of the daily chart are well positive but still close to the overbought area; those of the weekly one are also positive supporting higher levels. The indicators of the s/t charts are instead mixed to negative this morning supporting some consolidation. The correction we had on Friday formed however a new positive reversal suggesting a s/t target at 1303,40. Possible a test of the resistance line at 1291,60; the holding of this line will cause another drop this time toward 1265!! Only an hourly closing above 1294,70 will resume the move up supporting a firm 1300 overshooting!!
We wait for lower levels to buy
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FUTURE TREND RESEARCH