trading date: March 14, 2017 –
Last week the market drifted lower and the breakout at SPY $237 was tested. Stocks bounced off of that support level after a strong jobs report Friday and we should see the next leg of this rally after the FOMC meeting Wednesday.
The probability of a rate hike is now at 100%.
Resistance will lie at yesterday’s high at $237.86, followed by $238.61 and then $239.57.
Support will lie at yesterday’s low at $237.24, followed by $236.59 and then $235.74.