Major resistance- 3025
S&P500 is once again trading slightly lower after showing a minor jump above 3000. Previously it has formed a temporary top around 3022 and shown a dip till 2888 level. The index hits high of 3015.40 and is currently trading around 2990.
Technically near-term support is around 2985 (200-H MA) and an hourly close below will drag the index down till 2975/2955.
The major resistance is around 3000 and the violation above will take the index to the next level till 3015/3025. Major bullish continuation only above 3025.
It is good to sell on rallies around 2997-98 with SL around 3015 for the TP of 2950.
