S&P500 Technical Analysis: Bulls gathering strength near the all-time high

S&P500 weekly chart

• The market is trading near the all-time high at 2,950.00.

S&P500 daily chart

• The market is trading above its main SMAs as bulls are pressuring the all-time high.
• A bull break above 2,950.00 resistance can send the US stock index in uncharted territory. Buyers will likely target 2,970.00 and the 3,000.00 psychological level.
• To the downside, support is seen at 2,900.00 and 2,860.00 level.

Additional key levels