S&P500 Technical Analysis: Bulls in great shape nearing the all-time-high - 2,938.00 can be next on the radar

Bulls came back and keep extending the longest run ever in US equities.
The S&P500 Index is trading above its 50, 100 and 200-period simple moving averages which are all rising and widening while the RSI, MACD and Stochastics indicators keep being constructive.
The next objective for bulls will be to retake the all-time-high and to travel towards 2,938.00 and 2,950.00

Flavio Tosti Independent Analyst

S&P500 daily chart

Spot rate: 2,905.75
Relative change: 0.56%
High: 2,910.75
Low: 2,879.25

Main trend: Bullish

Resistance 1: 2,917.00 all-time-high
Resistance 2: 2,938.00, 138.2% Fibonnacci extension (Aug-Sept, high/low)
Resistance 3: 2,950.00, 161.8% Fibonnacci extension (Aug-Sept, high/low)

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

Author

Flavio Tosti

Independent Analyst

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