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Short

S&P 500 faces resistance around 2030, good to sell on rallies

FX:SPX500   S&P 500 Index
342 1 5
Major Resistance -2030

The index has jumped till 2025 yesterday after making a low of 1987. It is currently trading around 2003.

Short term trend is still weak as long as resistance 2030 holds. Any break above 2030 will take the pair to new level 2050/2060.

Major trend reversal only if it closes above 2060 level.

On the lower side any break below 1985 ( trend line joining 2003 and 1993) and break below targets 1965/1942.

It is good to sell on rallies around 2005-2010 with
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