The S&P500 failed to maintain its bullish momentum on Friday, as it has closed in the red after a strong rally that has propelled it to around 2092.52, up from 2021.11, in just six sessions... The benchmark is apparently on its way to find its Major Trend Line in Orange. The trend is not bearish until the breakout of the 2071.98 level, which may trigger a bearish market with 2058 as an objective, and 2067.61 as a primary objective.
Failing to breakout 2071.98, and re-gaining a bullish stance around its Major Trend line, will send the benchmark seeking the 2100.81 level, with 2090.33 as a primary objective.
The daily Pivot Point is around 2087.69. The daily support levels 2081.06 and 2072.71. The daily resistance levels are around 2096.04 and 2102.67.
Failing to breakout 2071.98, and re-gaining a bullish stance around its Major Trend line, will send the benchmark seeking the 2100.81 level, with 2090.33 as a primary objective.
The daily Pivot Point is around 2087.69. The daily support levels 2081.06 and 2072.71. The daily resistance levels are around 2096.04 and 2102.67.
