S&P Futures daily charts
Daily RSI, MACD and stochastics are beginning to turn. At this point, this is still not a confirmed downtrend but we might have made a top at 1188. I’ve got a feeling that this is not the start of the downturn but I’ll let my indicators tell me what to do. I’ve stated that I feel the top of the market should be somewhere around 1210. We should not be making any big reversals until we hit this level.
I’ve got a strong support at 1150 for the S&P and if the index fails to break through this level, we might be set up to make new highs to 1210.
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