S&P 500 TECHNICAL ANALYSIS

S&P 500 TECHNICAL ANALYSIS – Prices edged above resistance at 2080.70, the 38.2% Fibonacci expansion, to expose the December 29 high at 2092.60. A break above that on a daily closing basis exposes the 50% level at 2112.90. Alternatively, a turn back below 2080.70 targets resistance-turned-support marked by the January 9 top at 2068.60.