S&P Monthly and Weekly (Dilernia Model)S&P moved into an extremely tight trading range over the past week, as it looks to be grinding to a halt as we get closer to the holiday season with a lack volatility
My view is that the S&P will try and complete 1249.50 next week (1252) and then go looking for the 3-week lows later in December or early January.
Whether the market continues up or goes down... the trend guide over the next 5-days will be determined by the Weekly level @ 1239.50
If price moves down from 1239.50 on Monday, then my view is over the next 5-days it will be more of the same, as the market drifts towards the Weekly 50% levels.
