SP500 (a 4-hour chart)
The USA Bonds market traded higher on Wednesday. In the lack of any statistics and other drivers the positive corporate earnings supported S&P500.
The S&P500 left its side channel and was able to set a daily high at 2169. The resistance is at 2180, the support is seen at 2165.
MACD is in the positive area. Its histogram grew which indicates the buyers’ positions strength. The indicator still gives a buy signal. RSI is close to the overbought territory which is also a buy signal.
The 100-EMA rejected the price upwards in the 1 hour chart. The SP500 broke the 50-EMA and advanced north from the moving averages. The moving averages direction is upwards.
We believe the price will grow to 2180 after a rebound to 2150.