S&P500 Technical Analysis: Bulls looking for a breakout above 2,940.00 all-time high

  • The S&P500 is in a strong bull trend. 
  • The S&P500 is in a sideways consolidation above the 50, 100 and 200-period simple moving averages while the RSI, MACD and Stochastics indicators remain constructive for further gains.
  • Resistances are to be expected near 2,939.50 (all-time high) and 2,950.00 while support can be expected near 2,900.00 figure and 2,877.00 (January swing high)
     

S&P500 4-hour chart

Spot rate:                  2,923.75
Relative change:       0.01%     
High:                         2,931.00
Low:                          2,912.50

Main trend:               Bullish

Resistance 1:           2,939.50 all-time high
Resistance 2:           2,950.00, 161.8% Fibonnacci extension (Aug-Sept, high/low)
Resistance 3:           3,000.00 round figure

Support 1:                2,917.00 August 29 high
Support 2:                2,900.00 figure
Support 3:                2,877.00 January swing high
Support 4:                2,863.75 August 7 high
Support 5:                2,853.00 August 9 low

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