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

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