S&P500 Technical Analysis: Pulling back to key support level – Buy the dips

• The S&P500 Index is taking a well-deserved breather after it reached new all-time-highs last week.  
• The S&P500 Index is pulling back near 2,877.00 January swing high. The bulls should defend this important level and lift the market from there.  
• Targets to the upside are seen near 2,917.00 all-time-high and 2,930.00 figure.  

S&P500 daily chart

Spot rate:                  2,898.25
Relative change:      -0.35%      
High:                         2,900.25
Low:                          2,877.50

Main trend:               Bullish

Resistance 1:           2,900.00 figure
Resistance 2:           2,917.00 all-time-high
Resistance 3:           2,930.00 figure
Resistance 4:           2,950.00 figure

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