Short term trend Slightly bullish
Major resistance 2820
S&P500 is trading higher for third consecutive day and jumped more than 180 points from low of 2603. The index broken major resistance 2761 (200- day MA) and jumped more than 25 points. It is currently trading at 2777 (0.68% higher).
The index’s near term resistance is around 2820 and any break above targets 2850/2900. Any break above 2821 confirms minor bullishness.
On the lower side, near term support is around 2735 and any break below targets 2700/2680.
It is good to buy on dips around 2760-65 with SL around 2735 for the TP of 2821/2845.
