A Market Timing Report based on the 12-13-2013 Close published Sunday December 15th, 2013
The SP500 Index is below what was first support now, so we could easily fall to the next support level or worse; however the close was just above a second support level which is the 10-30-2013 high of 1775.22. That is enough to provide the support for a bounce now to the aqua line above here at 1802.33. A bounce to 1800 would be good enough. Then the Bears may come back in to do more selling.
If there is too much weakness overseas or more pre-Fed meeting fear (about the meeting running from Tues. to Weds. with a press conference to boot on Weds.), we can drop to the next support level at about 1762 at the yellow trend line. If we fall to there, 1775.22 becomes overhead resistance on the next move up.
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