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4 May 2020
S&P 500 Price Analysis: US stocks bounce from session lows, trade above 2800 mark
- The bullish recovery on the S&P 500 Index remains intact.
- The level to beat for bulls is the 2850 resistance.
S&P 500 daily chart
The S&P 500 Index gapped down on Monday but then found support near the 2800 mark and the index is currently rebounding from the session lows. The market is still making higher highs and lows suggesting that the bullish recovery from mid-march remains intact. Bulls will be looking for a breakout above the 2850 level en route towards the 2900 figure and 2950 resistance. On the flip side, support is expected near 2800 and 2730/2700 price zone.
Additional key levels