S&P500 Index technical analysis: Market is awaiting the next catalyst to climb to the 3,000 round figure

• The S&P500 is consolidating just below the all-time high.
• The market is at a stone’s throw from the 3000 round figure.

S&P500 daily chart

The S&P500 is trading above its main daily simple moving averages (DSMA)s suggesting bullish momentum. The bulls broke above the 2,960.00 resistance and the market is currently consolidating in a range just below the all-time high.

S&P500 4-hour chart

Bulls want a breakout above the all-time high at 2,978.25 to reach the 3000 round figure. Support is at 2,960.00. If breached to the downside, 2,940.00 can come into play.

Additional key levels