- 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