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 moved on
expected note as strong support of 2120—2130 seems to be sustaining and on last
session opened positively at 2132 and from there made high of 2144 before
closing the positive And trend improving session at 2140 with gain of just 9
points or increase of 0.40% to the index. S&P 500 may move aggressively if
Status quo is maintained by FOMC policy meet outcome.
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 44
and increasing 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
9.22 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!!
