SP found resistance in yesterdays trading at the 1117 - 1118 area which was a .618 retracement and also a 127 extension pattern that completed in globex yesterday. The low of the day was 1100.75 and held the support area.

This area was previous resistance and had an upside breaout earlier this week. Tests have now been made to this support area and will be an important support area to watch.

Still some resistance above the 1117-1118 area around 1125 to keep an eye on.

There is an FOMC 2 day meeting next week to also keep an eye on.

Have a great trading day!

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