Princetontrader Futures Trading Education Charts of The Day December 12, 2016

After last week's march higher the S&P Futures gapped up Sunday night. The is essentially the opposite of last Sunday where we had a gap down to the Daily midband. The upper band ride remains in full force and effect through at least tomorrow. We have a new weekly pivot at 2228.60 and Bears will need to convert that level to resistance in order to have any chance at a directional week. Bulls want to keep the market in the same habit of making dips in the morning that grind to new highs near the close. 2255.75, 2251.50 and 2239.75 are all key levels to watch.

Daily Chart:

Hourly Chart: