S&P500 technical analysis: Week-long consolidation sees 2,880.00 support holding
|- The S&P500 spent the week in consolidation mode just above 2,880.00 support
- The level to beat for bulls is the 2,910.00 resistance.
S&P500 daily chart
The S&P500 Index is consolidating the gains of the last weeks below the 2,900.00 handle. The market remains bullish above its main daily simple moving averages (DSMAs).
The stock index is trading above its main SMAs suggesting bullish momentum in the medium term. Bulls are looking for a break above 2,910.00 to reach 2,940.00 and 2,960.00. Immediate support can be located at 2,880.00 and 2,840.00.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.