The 4195.75 long-term support area can contain selling through the balance of the year, above which 4606.50 remains a 3 - 5 month objective, the 4808.25, January 2022 all-time high expected by the end of the year.
On the way up, 4606.50 can contain monthly buying pressures, with a settlement above 4606.50 indicating the targeted 4808.25 within 3 - 5 weeks, where the broader market can double-top on a monthly basis.
Downside, a weekly settlement below 4195.75 would be considered a significant failed long-term buy signal, in essence indicating 3898.25 within 2 - 3 months.
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For Tuesday, 4451.75 can contain weekly selling pressures, above which 4606.50 remains 2 - 3 week objective.
Upside Tuesday, 2522.50 can contain session strength, while closing above 4522.50 should yield 4606.50 by the end of next week, able to contain buying through July.
Downside Tuesday, breaking/opening below 4451.75 allows 4404.25 intraday, able to contain session weakness and the level to settle below for indicating a good weekly high, 4299.50 then expected by the end of next week, where the market can place a weekly low, possibly into later July trade.
On the way up, 4606.50 can contain monthly buying pressures, with a settlement above 4606.50 indicating the targeted 4808.25 within 3 - 5 weeks, where the broader market can double-top on a monthly basis.
Downside, a weekly settlement below 4195.75 would be considered a significant failed long-term buy signal, in essence indicating 3898.25 within 2 - 3 months.
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For Tuesday, 4451.75 can contain weekly selling pressures, above which 4606.50 remains 2 - 3 week objective.
Upside Tuesday, 2522.50 can contain session strength, while closing above 4522.50 should yield 4606.50 by the end of next week, able to contain buying through July.
Downside Tuesday, breaking/opening below 4451.75 allows 4404.25 intraday, able to contain session weakness and the level to settle below for indicating a good weekly high, 4299.50 then expected by the end of next week, where the market can place a weekly low, possibly into later July trade.
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