Short term trend Slightly bullish
Major resistance 2757-2763 (20- day MA)
S&P500 is trading higher for fourth consecutive day and jumped more than 150 points from low of 2603. The index broken major resistance 2723 high made on Oct 25th 2018 and jumped more than 30 points. It is currently trading at 2755 (0.80% higher).
The index’s near term resistance is around 2757--63 and any break above targets 2800/2821. Any break above 2821 confirms minor bullishness.
On the lower side, near term support is around 2680 and any break below targets 2640/2618/2600..
It is good to buy on dips around 2725-30 with SL around 2700 for the TP of 2821.
