S&P 500 Price Analysis: The market is higher but only just

• The S&P 500 is 0.10% higher but there is a lack of key drivers on Tuesday.
• Travel companies are at the top of the leaderboard.

S&P 500 4-hour chart

Equities markets have stuttered on Tuesday despite being 0.10% higher on the session. US lawmakers are getting together to discuss stimulus measures without a deal yet finalised. There are some big names struggling on the session as MC Donalds and 3M reported earnings on the softer side. On the plus side, Pfizer is performing well after a positive update with strong demand for cancer treatments and blood thinners. 

Looking closer at the chart, the price is still above the black support line at 3,233.25. This is a key level as it was the wave high from 8th June. The bulls will be looking to hit the red resistance line at 3,923.00 and if this level breaks the bull trend is definitely back on. On the downside, the key support zone is at the blue line near 3,155.50. Its clear to see at the moment the market is stuttering but the bull trend is technically still intact. 

The indicators are slightly mixed, the MACD histogram is red but the histogram bars are diminishing in size. The signal lines are above the mid-zone which is a bullish sign. The Relative Strength Index is just above the 50 line which is again a positive signal. Overall, the market is making higher highs and higher lows and this week could be pivotal. 

Additional levels