S&P-500 technical preview for December 1, 2014

ES futures consolidate a few points below all time highs. 2.050, 2.035 and 2.015 offer good support and may be used by dip buyers for entering new long positions. Price consolidation is positive as it reduces “overbought” conditions. My estimate of new record levels (most likely 2.100) by year-end is still intact. Imho, this huge bull market has still a long way to go.

S&P-500 futures, daily chart:

US SPX 500 Futures(Daily)20141201111153

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