Médio Prazo: SP 500 ST: limited upside

Our pivot point stands at 1190.

Our preference: As long as 1190 is not broken down, we favour an upmove with 1263 and then 1285 as next targets.

Alternative scenario: below 1190, expect 1156 and 1140 in extension

Comment: Daily indicators are positive but lack momentum, we are cautious.

Trend: ST limited rise; MT range.

Supports and resistances:
1305 **
1285 ***
1263 ***
1244.28 last
1190 ***
1156 ***
1140 **