SP500 (a 4-hour chart)
The index continued its recovery yesterday. The oil, gas and financial sectors were in demand. Segate (the storage systems producer) development plans also supported S&P 500.
The index recovered and was able to set a new local high at 2088. SP500 was able to grow by 1,25% during the course of trades. Now the resistance comes in at 2085, the support lies at 2070.
MACD is in the positive area, its histogram grew. If MACD keeps growing the index will keep growing. RSI is near the overbought area. If RSI declined that will be a sell signal. Shall it move upwards and the index will grow further. The index broke all moving averages (50, 100 and 200) on the 4 hour chart. All moving averages are below of the S&P 500, that is a buy signal.
If the price fixates above the resistance 2085, it may continue the upward movement in the short term. The potential target is 2100.