Technical Analysis

S&P index approaches key resistance target

Be aware. The 100 and 200 day MAs and 3000 index level are being approached. 

the S&P index is trading just shy of the week’s high at 2968.09. A move above that level would next target the falling 100 day moving average at 2975.37. The price has not close above the 100 day moving average since February 24. Above that level is the flattening 200 day moving average at 2999.01 (call it 3000).  That level should be a key bias defining level for the broader index going forward. There should be sellers on the 1st test.

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