SHORT-TERM (today and 5 days out)
For Tuesday, 2204.00 can contain session strength, below which 2183.00 remains a 1-2 day target. Downside today, 2197.25 can contain initial selling, while breaking (especially opening) below 2197.25 signals 2183.00 intraday where the market can bottom out into later week and above which 2227.25 remains a 3-5 day objective. A settlement today below 2183.00 indicates a good weekly high, momentum then expected to shift negative through the balance of the week, longer-term support at 2136.25 then considered a 3-5 day target. Upside Tuesday, pushing/opening above 2204.00 signals 2211.50, likely to contain initial strength, beyond which 2218.00 becomes an intraday target able to contain session strength. Closing today above 2218.00 indicates the targeted 2227.25 formation tomorrow where the market can top out through next week as well as a meaningful upside continuation point into later December.
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