Tuesday, June 16, 2015

S & P 500 Futures re-test 2062

Nice bounce so far off the 2062 level overnight.

The 150 dma @ 2071.04 is the pivot.

2079 resistance was the high yesterday and still matters.  2089 is the next target if we get through on volume and confidence (and not just a Greece rumor).

There are a lot of lines of resistance above for this market, so don't expect a straight shot higher.  There's just too much wood to chop.

2062 is support, but triple bottoms are a rare thing.  Heads up if we break as the 200 dma @ 2044.78 would be next.

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