S&P 500 faces strong support at 1980, break below targets 1950/1929

• Major resistance -2010 (Mar 4th high)
   
• Major support - 1980
   
• The index is consolidating between 2009 and 1980 for the past five trading session. It is currently trading around 1989.
   
• Short term trend is bearish as long as resistance 2010 holds.
   
• The index minor resistance is around 1996 (61.8% retracement 2009 and 1977) and any break above targets 2009/2025/2041 in short term.
   
• On the lower side major support is around 1980 and break below targets 1950/1929.

It is good to sell below 1980 with SL around 1996 for the TP of 1952/1929