.
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. Was in profit booking mode
for the recent highs which S&P 500 made in previous session on account of
good Job payroll data and hence we saw investors skim profit at high as we saw S&P 500
opened positively at 2183 and then made high of 2185 before making low of 2178
before closing the session at 2181 with almost no change to the index and
closed flat.
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 63
and decreasing suggest that 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 and may be entering
in consolidation phase after making recent highs.
MACD of
positive 16.49 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!!
