SP500 (a 4-hour chart)
The American Band Market grew last Friday after a strong Non-Farm Payrolls release. The shares of JPMorgan, Wells Fargo и Bank of America grew by 1-2%.
The positive news from the USA supported the index. The SP500 grew with a gap just after the Labour market release. The instrument set a new local high at 2125. Now the price reached the pre-Brexit levels.
The moving averages (50, 100 and 200) are turning upwards. The resistance comes in at 2120, the support lies at 2100.
MACD is increasing that indicates the buyers’ positions strength. RSI is in the overbought area. If the oscillator remains at the same levels, it will be a buy signal.
We expect the 2120 line break that will open the way for the buyers to 2140.