S&P 500 remained positive for
the previous session and gained close to 9 points .It had already given a close
above the resistance level of 2085, and is still looking positive and moving to
touch its next resistance level of 2110.Despite the FED rate hike news still
very open in the market, analysts have rather taken this news positive as it
would strengthen the economy.
S&P 500 has resistance at
2110—2126—2134. These are crucial resistances to cross for a smooth bullish
rally. A close above 2135 would be very positive for the market.
It has a support at 2080—2070
intact and only a below this level will bring weakness in S&P. Although the
trend looks positive for the time being.
RSI has crossed 61 levels and
still looks to gain strength, Its not in overbought zone which suggests it can
still pull up the market.
MACD is positively diverged and
the histograms are also showing support to the momentum. All in all S&P is
waiting to cross the resistance of 2135 and is looking very likely due to the
support from indicators.
More Will Update Soon!!
