S&P500 Technical Analysis: Bulls in great shape nearing the all-time-high


  • Bulls came back and keep extending the longest run ever in US equities.
  • The S&P500 Index is trading above its 50, 100 and 200-period simple moving averages which are all rising and widening while the RSI, MACD and Stochastics indicators keep being constructive. 
  • The next objective for bulls will be to retake the all-time-high and to travel towards 2,938.00 and 2,950.00

S&P500 daily chart

Spot rate:                  2,905.75
Relative change:       0.56%     
High:                         2,910.75
Low:                          2,879.25

Main trend:               Bullish

Resistance 1:           2,917.00 all-time-high
Resistance 2:           2,938.00, 138.2% Fibonnacci extension (Aug-Sept, high/low)
Resistance 3:           2,950.00, 161.8% Fibonnacci extension (Aug-Sept, high/low)

Support 1:                2,900.00 figure
Support 2:                2,877.00 January swing high
Support 3:                2,863.75 August 7 high
Support 4:                2,853.00 August 9 low



Source link



Leave a Reply

error: Content is protected !!