SHORT-TERM (today and 5 days out)
For Friday, 2134.50 can contain initial weakness, above which 2151.50 remains an intraday target able to contain strength into the middle of next week - once tested the market vulnerable to slipping back over the following 2-3 days to retest long-term support at 2117.00. A settlement above 2151.50 indicates a good September low, 2210.00 then becoming a 3-5 day target, 2263.00 expected over the following several weeks. Downside today, breaking/opening below 2134.50 indicates 2117.00 (2124.10 index), the start of a wide yet narrowing range of long-term support down to 2105.00 (2112.02 index) able to absorb selling through the balance of the year, and above which a secondary long-term buy signal remains firmly intact. A settlement today below 2105.00 signals 2053.00 by the end of next week, 1954.25 within 3-5 weeks.
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