The technical situation has changed for Dow Jones, with failure to breach the suggested neckline of the potential classical pattern.
Dow has moved higher sharply, where it attacks moving averages right now.
We are not sure if the index will hit the resistance zones of 17820.00 damaging the pattern completely, or if moving averages will push it back to the neckline areas.
Support: 17630.00-17550.00-17500.00
Resistance: 17740.00-17800.00-17860.00
Direction: Neutral
S&P 500 has moved to the upside before even testing the suggested horizontal support of the under-construction pattern.
Currently the index is trading above moving averages. and that could bring further appreciation, but we will be patient before suggesting new positions until we make sure that the index will have the ability to clear 2077.00.
Support: 2063.00-2055.00-2043.00
Resistance: 2072.00-2083.00-2095.00
Direction: Neutral