Friday, December 16, 2016
Friday, December 16, 2016 Morning S&P Comments from Michael Blythe
Good morning. Bulls did what they needed, rebuilt a floor at 2250 and is using that to push higher. It’s an expiration Friday with bulls in charge, not out of the cards for a grind up to new highs or at least pushing close to 2270. Going to return to quiet and thin.
2273 (**) Third Target + Resist
2269 (*) Second Target + Some Resist
2264 (*) First Higher Target
2260 (*) Early Pivot
2256 (*) First Lower Target + Small but maybe good enough support
2252 (**) Second Lower Target + Support
2248 (***) Third Lower Target + Bulls Better Show up
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
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