Near Term Trend: Positive
Monday’s Settlement: 3079 (+ 17)
UPDATE: For the last fourteen weeks 3010 (our proprietary black resistance neck- line) has acted as the key upside pivot, and price action remained under that point (on a close basis) for this entire period. 3010 remains the pivot between a bullish and bearish market.
In light of this, the rally during the last six trading sessions has placed the Index in a bullish stance and just under our pivot (see chart).