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Short

S&P500 faces major support 2060, break below targets 2000/1880

FX:SPX500   S&P 500 index of US listed shares
339 0 4
Major support -2060 ( Trend line joining 1870 and 2003)

S&P 500             has made a high of 2096 yesterday and started to retreat from that level. Overall trend is still weak as long as resistance 2108 holds.

On the lower side break below 2060 confirms major weakness a decline till 2040/2020/2000 is possible .Bullishness can be seen if it breaks above 2108 and break above targets 2120/2137.

It is good to sell below 2060 with SL around 2102 for the TP of 2002/1880.


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