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  • S&P 500 index is trading in 5-week highs challenging the 50 SMA on the daily chart.
  • The bullish recovery stays intact as buyers overcame the 2800/2850 resistance zone.  
 

S&P 500 daily chart

 
The S&P 500 remains firmly bullish making higher highs and higher lows as the buyers overcame the 2800/2850 resistance zone. The market remains biased to the upside with bulls setting their eyes on the 3000 round number. On the flip side, the 2800/2850 price zone is expected to act as support. 
  
 

Additional key levels