S&P 500 January 7-14

The strong move of the first 30 minutes of trading was followed by a trendless market for the rest of the day.  There’s a slight chance of a quick 0.50% gain or 9 S&P points.

The first support should be at the trending line followed by the 21 period ma. If the market can best the congestion area at 1840 there’s a working probability for the 1847 target. Last support is at 1828, if broken down, the trade must be exited.


Shalom everyone,