For Thursday, 4553.75 can contain intraday strength, 4510.25 expected intraday and able to contain weekly selling pressures, once tested 4685.75 longer-term resistance attainable by the end of next week.
Closing today below 4510.25 signals 4418.75 by the end of next week, where the market can bottom out through August activity and a meaningful downside continuation point over the same time horizon.
Upside Thursday, pushing/opening above 4553.75 allows 4617.25, also able to contain intraday strength and the level to settle above for then allowing 4659.75 intraday, able to contain session strength.
A daily settlement above 4659.75 signals a test tomorrow of 4685.75 - 4699.00 long-term resistance, able to contain buying into September activity and a significant upside continuation point into later year.
Closing today below 4510.25 signals 4418.75 by the end of next week, where the market can bottom out through August activity and a meaningful downside continuation point over the same time horizon.
Upside Thursday, pushing/opening above 4553.75 allows 4617.25, also able to contain intraday strength and the level to settle above for then allowing 4659.75 intraday, able to contain session strength.
A daily settlement above 4659.75 signals a test tomorrow of 4685.75 - 4699.00 long-term resistance, able to contain buying into September activity and a significant upside continuation point into later year.
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