Trading signals to watch 16 January 2014

Resistance @ 1850 remains strong yesterday as S&P 500 couldn't stay above 1850 even though it tried to
Look to sell S&P 500 @ 1850 (S&P Futures @ 1844) today (16 January 2014) if it fails & drops further again
Risk: S&P 500 might keep trying to break above 1850

New possible support found @ S&P 500's 1846 as S&P 500 dropped to 1846 & rebounded twice, although it's slightly broken
S&P 500's 1846= S&P Future's 1840 as S&P Futures couldn't drop further below 1840 & rebounded
Look to buy S&P 500 @ 1846 or S&P Futures @ 1840 if it stays above & goes higher, preferably if both stays above

Although S&P 500 is currently trading in the range of 1846-1850,
Economic data & Fed Chairman's speech might affect the market & help it break above or drop below the range of 1846-1850
Wait for economic data, watch market's reaction & trade cautiously as there are a lot of important economic news today & the market can be quite volatile