Dow has inclined gradually during the previous period as anticipated, passing over the main resistance-turned-into-support at 17830.00.
All eyes are on 17900.00 as we mentioned on Friday, and it should be cleared to expose 18000.00 psychological.
RSI14 shows some kind of exhaustion, while ADX shows slight weakness in +DI.
We are bullish, but we will not take any positions now until the index clears 17900.00 with at least four-hour closing; noting that, today’s vacation in U.S. will cause some kind of pause.
Support: 17800.00-17760.00-17665.00
Resistance: 17930.00-18000.00-18050.00
Direction: Bullish, but we will not take new positions
S&P 500 moves just a few pips below 2107.00 cluster resistance - previous top area - as seen on the provided daily chart.
The index should hit this level with a daily closing to affirm resuming the bullishness.
Risk versus reward ratio is inappropriate now; thus, we will not take any new positions.
Overall, we will watch out the price behaviors in the current levels.
Support: 2095.00-2082.00- 2070.00
Resistance: 2107.00-2113.00-2125
Direction: Bullish, but we will not take new positions