S&P 500
S&P 500 has been in habit of
following our mentioned and analysed technical levels and it has been doing it
as last session we saw a positive trading session as S&P 500 opened
positively with a gap up open at 2042 and then made high of 2073 as investors finding confidence in S&P
500 and entered at lower levels and tried to improve its short term trend and
gained some upside momentum and finally closed a positive session at 2070 with
gain of 35 points or increase of 1.70% to the index again and this shows that
S&P 500 is strong.
S&P 500 has crucial immediate
resistance 2085--2090. If this level is positively sustained and breached then
one see next Resistance at 2103--2105.
S&P 500 Support is also
intact at 2060--2055 .If this is breached negatively and not sustained then one
see next support building around 2042--2040.
RSI of 49.15 and increasing also
indicate that short term trend is towards is improving as markets seems to have
factored in all the negative news and looking to build upside momentum.
MACD of negative 7.78 from
previous negative 8.97 and improving also indicate that short term trend is positive
.
