Major Resistance - 2615 (50- day EMA)
S&P500 trades higher for 8th consecutive day and jumped more than 175 points in four trading session. The index hits intraday high of 2616 and is currently trading around 2614.50.
Short term trend is bullish as long as support 2515 (20- day MA). Any break below 2520 confirms minor weakness and a dip till 2465/2437/2397. Any further bearish continuation only below 2330.The minor support is 2580.
On the higher side near term resistance is around 2615 and any break above targets 2678/2725.
It is good to buy on dips around 2580 with SL around 2580 for the TP of 2678.
