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Long

S&P 500: Intraday Trade Idea

FX:SPX500   S&P 500 index of US listed shares
240 0 8
Major intraday resistance -2010 (Hourly Kijun-Sen)

Major intraday support- 2000

Pattern Formed (Hourly chart)- Bullish divergence ( CCI (50) and RSI (14)

The index has recovered after making a low of 1989. It is currently trading around 2012.80.

The S&P500             is trading slightly well above 2010 (hourly Kijun-Sen) and a jump till 2026 (55 H EMA)/2040 (61.8% retracement of 2072 and 1989).

The index should break above 2072 for the bearish trend from 2127 till 1989 to complete. Any break above 2072 targets 2100/2120/2127.

On the lower side , major support is around 2000 and break below will drag the index down till 1989/1972/1960.

It is good to buy at dips around 2010 with SL around 2000 for the TP of 2026/2040
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