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 and consecutive closes around 2130 and weekly
close above 2130 may make a case for upside move if strong support is build
.S&P 500 opened positively at 2123 and from there made high of 2130 before
closing the weak and flat session at 2129 with gain of just 6.50 points or increase
of 0.31% 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 38.32
and decreasing also suggest that S&P 500 overall trend is towards
consolidation and we may see S&P 500 to continue the same trend unless an
strong support is made for an upside move.
MACD of negative
6.09 and decreasing Suggest that current trend is weak and we may see some
range bound consolidation to continue before buyers enter aggressively once all
negative sentiments are absorbed in market.
MORE WILL UPDATE SOON!!
