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5 May 2020
S&P 500 Price Analysis: US stocks up, approaching 2900 resistance
- The bullish recovery from mid-March stays intact.
- The level to beat for bulls is the 2900 resistance.
S&P 500 daily chart
The S&P 500 Index gapped down on Monday and found support near the 2800 figure. The market is printing higher highs and lows suggesting that the bullish recovery from mid-march stays intact. Buyers will be looking for a break above the 2900 level en route towards the 2950 level and 3000 round number. Conversely, support can be expected near 2850 and the 2800 figure.
Additional key levels