SP500 (a 4-hour chart)
The S&P 500 index is strong due to the positive corporative earnings reports. However, Intel and GE negative reports worsened its positive dynamics.
The index refreshed the all-time high at 2170. The instrument closed the Friday in a green territory. The overall tone is bullish. The resistance is seen at 2180, the support is at 2165.
MACD is in the positive territory. Its histogram decreased which indicates the buyers’ positions weakening. RSI is close to the overvalued territory which is a buy signal.
The price bounced from the bullish 50-EMA in the 4 hours chart. The moving averages (50, 100 and 200) direction is upwards.
Technically, a bullish tone persists in the market. All our eyes are on the level 2170. If the index SP500 manages to break it the further uptrend will be continued to 2180.