As expected S&P 500 settled at our mentioned resistance of 2100.For the previous trading session one saw S&P 500 trade near its upper Bollinger band limits and took correction as expected and from there traded in green by opening at 2096 and made high of 2104 before it settled at 2100.80. showing little range movement for two trading session.
S&P 500 has immediate resistance at 2109.If this is positively breached one see next resistance at 2120.
Support is Intact at 2087.If this is breached negatively one see next support at 2077.Below this stock may test 2048 if trend is reversed from here.
RSI of 67 indicate that trend may be prevalent and S&P 500 may test its above resistance level if trend is sustained.
MACD of positive 0.90 with increasing divergence shows that for short term trend may be positive.
More will update soon!!
