Princetontrader Futures Trading Education Charts of The Day December 28, 2016

The S&P futures tested the top of our key price range yesterday 2267-2269 and failed to convert that area to support. Price then traded back to the weekly pivot (2260.27) where it held as support after hours. We are currently trading back in the 65/66 area. The key today will be whether the bulls can capitalize of the solid support at weekly pivot and move above 2269 to challenge the all time high. If not we are left with more tight range days between 2260 and 2269. If bears can break the weekly pivot then 2257, 2251 and 2247 await below. This remains in holiday mode. Lots of chop and small ranges. Take what the market gives you. Don't overtrade.

Daily Chart:

 

Hourly Chart: