Watch for short term support at 1140-41 as the sellers push against the buyers exhaustion on the move up. If by 2:00 the sellers haven’t moved through to 1137.25 or lower watch for consolidation into the close. If the buyers have made another push during lunch to give us a new short term high watch for the attempt to 1156.25.
Looking for the approach on the resistant trend line after filling the gap. From there a move to 1132.50 then 1137.50 and an extreme high at 1156.25 if we take out the previous swing high at 1144.25.
S&P500 emini future contract hit the extreme high of 1144.25 we set last week. The first resistance is 1137.25 and Point of Control is 1132.50 for direction on the day. So far the sellers have been in control.
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