- The S&P500 is in a bull trend.
- The S&P500 is trying to for form a double bottom with the September lows as bulls are attempting to find support near 2,900.00 figure. Bulls look ready to launch a new bull leg soon.
- Resistances are to be expected near 2,917.00 August 29 high, the 2,939.50 level (all-time high) and 2,950.00 while support can be expected near 2,900.00 figure and 2,877.00 (January swing 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: 2,917.00 August 29 high
Resistance 2: 2,939.50 all-time high
Resistance 3: 2,950.00, 161.8% Fibonnacci extension (Aug-Sept, high/low)
Resistance 4: 3,000.00 round figure
Support 1: 2,900.00 figure
Support 2: 2,877.00 January swing high
Support 3: 2,863.75 August 7 high
Support 4: 2,853.00 August 9 low