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Aiming for a rebound and the recent record high

S&P 500

A resilient digestion Friday during the holiday shortened session to rebound from the bottom of our 3141/39 support area and push higher again overnight/ this morning, to retain the positive tone from last Wednesday’s new record peak (at 3155.0), still building on the latter November bull gap at 3116.5-14.5 and whilst holding above 3141/39 to keep risks higher for Monday.

  • We see an upside bias for the new record peak at 3155.0; break here aims for 3161.25, maybe 3176.0.
  • But below 3141/39 aims for 3128.0 and then opens risk down to the bull gap at 3116.5-14.5.
by Steve Miley December 2, 2019
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