S&P500 Technical Analysis: Ending the day in the red just below 2,900 level

The S&P 500 retreated slightly this Monday, however, the main trend remains intact.
The market is trading well-above the rising and widening 50, 100 and 200-day simple moving averages and 2,877.00 (January swing high).
The RSI and the MACD are starting to decelerate and the bulls will need to break above the all-time-high in order to resume making higher highs.

Flavio Tosti Independent Analyst

S&P500 daily chart

Spot rate: 2,905.50
Relative change: 0.04%
High: 2,911.75
Low: 2,896.25

Main trend: Bullish

Resistance 1: 2,900.00 figure
Resistance 2: 2,917.00 all-time-high
Resistance 3: 2,930.00 figure
Resistance 4: 2,950.00 figure

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

Author

Flavio Tosti

Independent Analyst

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