December 31, 2016

S&P 500 End of Year Charts

  • Month Time frame continues to look strong. The long term structure will show weakness only if price falls back into the Range between 1800 - 2134. So weakness can be confirmed only on a Month close below 2134 levels.
  • Weekly weakness after the Negative Divergence. More weakness below 2191 levels.
  • Daily Time frame shows price below 20 Day SMA. But price continues to stay above 50 and 200 Day SMA.
  • CRUDE Oil support and resistance levels