S&P 500 Futures Forecast March 26, 2013, Technical Analysis

The S&P 500 futures market rose during the Monday session, but found the 1560 level as being far too resistive. In fact, we came within 1/4 point of the all-time highs in the index itself. However, we found that area to be far too strong as far as resistance is concerned, and because of this we formed a shooting star. Even if we break down from here though, we are more than willing to be patient enough to wait for a supportive move or candle close to the 1520 area. We are buying only, not selling as this market has been so strong to the upside. Alternately, if we get above the 1560 level, we think this market will continue to break higher also.