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
consolidation mode for consecutive session but took a strong support from 2153—2150
which was sustained positively and hence we saw a bull run and therefor in last
session opened positively at 2177 and from there made loe of 2176 and made high
of 2182 before closing at the same with gain of just 4 points or increase of
just 0.22% to the index.
S&P
500 has crucial immediate resistance intact 3000--3010. If this level is
positively sustained and breached then one see next Resistance at 3030--3040.
S&P
500 Support is also intact at 2175--2170.If this is breached negatively and not
sustained then one see next support building around 2160--2140.
RSI of 66
and increasing also indicate that short
term trend is towards is consolidation as markets seems to have factored in all
the negative news and looking positive for short term as it seems to be forming
a strong support at 23150—2155 and may
be entering in consolidation phase after making recent highs.
MACD of
positive 16.57 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.
