SP500 is destined to reach the key resistance before it can determine whether the trend is bullish or bearish. After the December crash, the price is almost completely absorbing the losses and is moving towards the EMA200 passing through the 2690 points: this is the level that will determine the future of this index for the first months of 2019: an upward break will ensure that SP500 can reach the next key resistance ( the one placed at 2815 points) in a few sessions and then try to stretch towards the previous highest level; a rejection by that level will mark the beginning of a new corrective wave that should end with the reaching of the support area at about 2200 points. So far, with the current fundamental scenario the second hypothesis is the most probable. As soon as there are both technical and fundamental confirmations, we will position ourselves in the market.
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