S&P-500 technicals Dec 11, 2014

ES futures have been correcting from their historical highs during the last couple of days. The September high @ 2.015 will offer good support and a good chance to dip buyers to enter the market. The index could even go down as far as to the 1.980-2.000 price region where it will not be considered “overbought” anymore. I estimate that new record levels will be marked in the next weeks before this huge 5-year long bull market runs its course.

S&P-500 futures, daily chart:

US SPX 500 Futures(Daily)20141211114032

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