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Another new record high

S&P 500 E-mini Future

A strong advance overnight Monday-Tuesday to spike above the recent record high at 3132.5 to a new all-time peak (at 3145.0) then a dip and a rebound for another prod higher last night to 3146.5, driven by Monday’s bull gap 3116.5-14.5 (to overcome 3124/25 resistance), to keep risks higher for Wednesday.

  • We see an upside bias for the new record peak at 3146.5 and 3150.0; break here aims for 3161.25, maybe 3176.0.
  • But below 3128.0 aims for the bull gap at 3116.5-14.5 and then opens risk down to 3097.75 and maybe even 3090.75.
by Steve Miley November 27, 2019
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