S&P 500 traded on expected note among global uncertainty and weak news and opened yesterday opened at 2065 and from there looked weak and made low of 2040 before finally closing at 2047 by shedding 19.45 points or 0.94% decrease to index.S&P 500 is trading near a crucial support of 2040 which if breached negatively can create panic.
S&P 500 settled at 2047 and has crucial resistance at 2060 .Next Resistance is building around 2085—2095 level.
Support is intact at 2040 and below this there can be heavy panic till 1950 level. Next Support around 1960 and S&P 500 is highly weak below this level.
A Negative MACD also indicate weakness in short term among global uncertainty if support of 2040 is not sustained.
More will update soon!!
