However, the Weekly highs @ 1212 can play resistance on Thursday and push price back to the Weekly 50% levels:- 8.5 to 14 points
S&P Weekly and Daily range.
Wednesday’s breakout @ 1198 was expected to continue towards Thursday’s highs @ 1212.
Around this level (high 1211.75) expectation of resistance, which resulted in a 8.5 reversal but a failure to continue down into trailing support levels @ 1196.
Breakout of the highs and trend is continuing towards the December highs @ 1138+
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