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 weak
for some time but in last session showed some improvement as S&P 500 is
trying to form support at 2130--2115 and consecutive closes around 2130--2115
and weekly close above 2130 may make a case for upside move if strong support
is build .In Last Session S&P 500 opened positively at 2132 and from there
made high of 2139 before closing the positive and trend improving session at 2136
with gain of just 4 points or increase of 0.18% to the index.
S&P
500 has crucial immediate resistance intact 2152--2160. If this level is
positively sustained and breached then one see next Resistance at 2175--2185.
S&P
500 Support is also intact at 2125--2120.If this is breached negatively and not
sustained then one see next support building around 2105.
RSI of 43
and decreasing also suggest that trend is improving and investors may enter
aggressively when impending event like FOMC meet is absorbed in the market and
we may see some positive move.
MACD of negative
9.08 and increasing suggest that current trend is improving and we may see some
aggressively upside move once FOMC meet review and policy outcome is absorbed
in the market.
More Will Update Soon!!
