Tuesday, January 3, 2017

Tuesday, January 3, 2017 Morning S&P Comments from Michael Blythe

Tuesday, January 3, 2017 Morning S&P Comments from Michael BlytheSocialTwist Tell-a-Friend

Good morning everyone and Happy New Year! Overnight the trends continue, equity futures, crude and dollar higher, meanwhile bonds and gold lower. Volume has been low around 150K, the calendar is busy this week. Shouldn’t take too long to know how for real this rally is. At the moment, my only bias in the S&P’s is to be patient.
2273 (***)
2268 (***) Third Higher Target + Resistance
2261 (*) Second Higher Target
2255 (*) First Higher Target
2250 (*) Early Pivot
2244 (*) First Lower Target + Support
2240 (**) Second Lower Target + Bulls Better Hold
2228 (***) Third Lower Target + Some Support
2212 (***) Weekly Bear Objective
All the best;

Michael Blythe
Futures Strategist
Hamzei Analytics, LLC

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