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  • The S&P500 is trading in a bull trend.  
  • The S&P500 broke below the bull trendline and the 200-period simple moving average on the 4-hour chart but is being supported above 2,877.00 (January swing high).
  • As long as the market holds above the support bulls will try to create a new bull leg towards 2,900.00 figure and 2,917.00 (August 29 high).  

S&P500 4-hour chart

Spot rate:                  2,889.00
Relative change:      -0.04%      
High:                         2,891.50
Low:                          2,863.00

Main trend:               Bullish

Resistance 1:           2,900.00 figure
Resistance 2:           2,917.00 August 29 high
Resistance 3:           2,939.50 all-time high
Resistance 4:           2,950.00, 161.8% Fibonnacci extension (Aug-Sept, high/low)
Resistance 5:           3,000.00 round 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