- S&P500 has declined slightly after forming a temporary top around 2453 on Jun 19th 2017. The index broken minor trend line support at 2430 and declined till 2415. It is currently trading around 2425.
- On the lower side, near term support stands at 2415 (Jun 9th low) and any break below will drag the index down till 2403 (May 31st low)/2387 (61.8% retracement of 2345 and 2453)/2345.
- The temporary top formed around 2453 will be acting as major resistance and any break above will take the index till 2470 (161.8% retracement of 2453 and 2403)/2500. The minor resistance is around 2446.
- Short term bullish invalidation only below 2320 level.
It is good to sell on rallies around 2430 with SL around 2446 for the TP of 2403/2387/2345.
