The S&P Futures had another look at the 2267.50 range top from last month. That level is also the pre-FOMC price from the December meeting. Post FOMC-minutes price traded as high as 2267.50 before finding resistance once again and pulling back to the 2260 area. Bulls are running out of chances to convert 2267-2273 and make a leg higher. The Bears showed nothing yesterday with the LOD being made at the open and price never really looked back. Bears must convert both the Daily Middle Band (20 day sma) and the 2244.67 weekly pivot on a closing basis in order to be in a position for any kind of pullback.
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