Princetontrader Futures Trading Education Charts of The Day December 14, 2016

The S&P Futures made another all-time high at 2273 after the bears failed to convert the 2246/2247 area for the second consecutive day. We have the FOMC at 2pm et and the reaction to both the announcement and the subsequent press conference should define the next move and the month of December. the 2246/47 support area will be key on any downward reaction. Any upward reaction will need to make another all-time high and engage the Daily upper band to preserve the existing band ride and maintain pressure on the bears.

 

Daily Chart:

Hourly Chart: