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 it opened positively at 2156 and from there
maintained its momentum to make a high of 2163 before finally closing the
positive session at 2162 with gain of 9.50 points or increase of 0.44% to the
index. S&P 500 seems to be in upward trend and trading at recent high after
the strong rally.
S&P 500 has been trading S&P 500 has
crucial immediate resistance 2175--2200. If this level is positively sustained
and breached then one see next Resistance at 2230—2250.
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 66 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 positive for short term.
MACD of positive 21 also suggest
that S&P 500 may short term trend is improving and if trend continues then
we may see strong upside move if near resistance are positively breached and
sustained.
More will Update Soon!!
