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
profit booking mode for the recent highs
which S&P 500 made in previous bull run and traded on expected note as
S&P 500 seems to have entered in consolidation mode and opened flat at 2179 and from thee made high of 2181 and low of 2176 before finally closing the
flat session at 2177 with no change to the index to the index on closing.
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 60
and decreasing suggest that short term trend
is towards is consolidation and we may see some profit booking in short term.
MACD of
positive 13.93 and decreasing also suggest that S&P 500 may enter
consolidation phase and for short term we may see some hawkishness as Investors
would like to skim profit before Inflation data which could create further
panic on downside if mentioned supports are not positively sustained.
More Will Update Soon!!
