Daily Chart II
The weekly candle is a doji showing stalling of the uptrend.Volumes were very low. Daily Charts show the S&P500 moving in a 100 point range since the beginning of this year. A breakout on either side would give a 100 point move in that direction.An expanding triangle seems to be forming which is a bearish topping out pattern.
Weekly Oscillators stochastics moving up strongly from oversold zone. Daily stochastics has given a sell in the overbought zone indicating some pullback may happen in the near term.Friday's candle made a lower high lower low changing the bias to negative.Support taken at 23.6% fibo level of rise from 1258.
Resistance at 1345-1371 Support at 1330-1319.
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