Near Term Trend: Bullish
As of 1/12/18 close: 2,789.25
UPDATE: Last week, I suggested exiting longs and getting short of ES futures at 2,754 with stops on a close above 2,760 and with a target of 2,487.75.
S&P futures are now around 30 handles above the projected monthly resistance of 2,754 2,760. If the rally through resistance holds into month end, it will be yet another defeat for the bears. However, a tumble back below resistance would give them hope.
I would be holding shorts until the end of the month to see what happens. A monthly close above 2,760 should stop you out of shorts. If no stop out occurs, hold shorts until 2.321 (horizontal line support + uptrend line).