Quick updates on US Stock Market

Hello, last week was very critical to the US markets, especially after the announcement of interest rate by federal reserves. The attached graph shows the mini S&P 500, which used by economist and financial analysts to evaluate the performance of US market. The market had two scenarios:

1.       Closing above major support 2044 and has high probability of going bullish to test the major resistance 2095

  2.       Breaking the major support and closing under 2044 to go bearish and test another major support at 1985 and going back into the consolidation stage.  

On Friday, the market broke the major support taking the 2^nd scenario, which increases the probability of testing the next major support at 1985 till 20^th of January 2016. For now, the price is between very tight consolidation range 2044 and 2032 but there is a high probability of breaking that level and heading to 1985.