We would still prefer to see the S&P 500 make a higher high relative to Thursday’s close. Our comments from December 10 still apply:
The green arrows in the chart below show instances when the blue trendlines acted as both support and resistance. Those lines intersect near the orange arrow and represent possible resistance for stocks. If the S&P 500 can push higher, the next points of possible resistance come in near 1,305, 1,313, 1,326, 1,334, and 1,343.
Below is an updated version of the chart shown on December 10: