S&P 500 has been in habit of following our levels and so it did again as S&P 500 been in bullish rally since it has sustained its crucial support of 2040 previously mentioned by us a rallied almost 2% on two bull session among improving global and economic environment as S&P opened positively at 2078 and again rallied for 2nd day by making a high of 2094 before finally closing at 2090 with 0.70% increase or gain of 14.48 points to S&P 500.
S&P 500 has crucial resistance at 2105—2110.If this level is positively breached and sustained then next Resistance building around 2135 level.
Support is intact at 2075—2060.Below this level we may see panic in S&P 500 as next support is building around 2040 level. S&P 500 is positional weak below this support level.
RSI of 60 and increasing shows that short term trend is bullish as buyers were waiting at to enter aggressively as crucial level were sustained along with improving global news.
MACD of positive 1.30 also indicate that trend is positive for short term and S&P 500 may continue on this track for short term.
