S&P 500 Price Analysis: US stocks trades in 7-day’s highs, strong resistance ahead

 

The S&P 500 is pulling back up after suffering one of the sharpest decline in history. While the market is correcting and some investors call for a v-shaped recovery, the S&P 500 will need to clear the 2600/2700 resistance to create a more reliable bottom. In the meanwhile, the market is likely to remain vulnerable below the above-mentioned price area. Support is seen near the 2500, 2400 and 2300 levels on the way down.