S&P 500
S&P looks to be on a short term bullish trend and previous session indicate that a flat close near its upper Bollinger band indicating a short correction as S&P 500 closed flat on Thursday with just 0.02% increase to index settling at 2082 at par with its previous close which was resistance as mentioned by us previously.
S&P 500 looks to have an immediate resistance at 2104.Above this level S&P 500 may test upper resistance of 2116-2120 (+) level. This is unlikely as S&P 500 near its upper Bollinger band and may show some correction in upcoming session.
S&P 500 has support at2060-2050.if these level are tested one see support building at 2020.Below this S&P 500 may show sign of struggle and panic.
MACD of –ve1.34 also suggest that for short term correction may be eminent.
More will update soon!!
