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  • The S&P500 is retracing down after hitting 3,004.
  • Immediate supports are seen at 2,985 and 2,950.

 S&P500 daily chart

The S&P500 is retreating slightly after establishing a new all-time high at 3,004 on an intraday basis. Bulls want to keep the raly going by targeting the 3,010 and 3,045 level.

S&P500 4-hour chart

The market is trading above its main simple moving averages (SMAs), suggesting bullish momentum in the near term. Support is at 2,985; 2,950 and 2,910 level.  

Additional key levels