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  • The Index is ranging in familiar territories waiting for a catalyst.

S&P500 daily chart

The S&P500 Index is in a bull trend above its 100 and 200-period simple moving averages (SMAs). The market is trading just above an important support at 2,800.00. A break below it can send the index down towards the 2,700.00 figure.

S&P500 4-hour chart

The market is ranging below its main SMAs.

S&P500 30-minute chart

The S&P500 is ranging above its 50 and 100 SMAs. If bulls break 2,840.00 resistance then 2,855.00 and 2,870 resistances can enter into play. Support is at 2,820.00; 2,800.00 figure. Further down awaits 2,760.0; 2,720.00 and 2,700.00 figure.

Additional key levels