.
S&P 500
S&P 500 has been in habit of
following our mentioned levels and it has been doing it for some time and
traded at our mentioned levels. S&P 500 has been in a bull rally and traded
in last session on expected note as some profit booking made S&P 500 swing
in little in both direction and hence traded flat as S&P 500 opened at 2153
and from there made low of 2151 and high of 2159 before finally closing a flat session
at 2153 with minimum or 0.17% change to the index.
S&P 500 has been trading S&P 500 has
crucial immediate resistance 2160--2175. If this level is positively sustained
and breached then one see next Resistance at 2200--2230
S&P 500 Support is also
intact at 2140--2120.If this is breached negatively and not sustained then one
see next support building around 2109--2103.
RSI of 64 and increasing also
indicate that short term trend is towards is improving as markets seems to have
factored in all the negative news and S&P 500 may enter profit booking mode.
MACD of positive 19.31 also
suggest that S&P 500 may short term trend is improving and healthy profit
booking could take place.
More Will update Soon!!
