SP500 (a 4-hour chart)
The unexpected growth of the Non-Farm Payrolls allowed the S&P 500 to set a record high. There is no resistance now as the index has never been this high before. All major US stock indexes were able to recover to the pre-Brexit levels.
The S&P 500 gapped upwards at the Monday trades opening. After that the instrument continued its rally which it started last Friday. The resistance comes in at 2140, the support exists at 2120.
Technically, the sentiment held as bullish. MACD is in the green zone that indicates the buyers’ strength. RSI is in the overbought area, it is also a buy signal.
The 50-EMA broke upwards the 100 and 200 EMAs in the 4 hours chart which is a buy signal. The 50, 100 and 200 EMAs are moving upwards in the 1 hour chart. The 50-EMA acts as a support for the instrument.
As bulls have the ball now the growth will be continued. The levels 2140 and 2150 are the next buyers’ targets. We do not exclude pull-backs towards the mark 2100.