Princetontrader Futures Trading Education Charts of The Day December 22, 2016

The S&P Futures were unable to convert the top of our range yesterday. 2267.50 has been resistance for 2 sessions and this precipitated the Bears taking price down to test the 2256.60 weekly pivot during the overnight session. The key heading to today's trade will be whether weekly pivot can hold. If weekly pivot can hold then the Bulls likely walk up price to the top of the range. Bears can trade down to the 2243-3347 range low if Weekly Pivot converts to resistance.

Daily Chart:

 

Hourly Chart: