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As we noted above, following the downward correction, S&P 500 futures have rallied again in the past few days. The positive dynamics of the S&P 500 persists and a steady rise into the zone above the local resistance level 4756.0 will be a signal for the resumption of long positions and confirm the scenario for further growth in the index.
In an alternative scenario, a breakdown of the support level 4666.0 (ЕМА200 on the 1-hour chart) may trigger a further decline of the S&P 500 with targets at support levels 4620.0 (ЕМА50 on the daily chart), 4460.0 (ЕМА144 on the daily chart), 4360.0 (ЕМА200 on the daily chart), 4300.0 (ЕМА50 on the weekly chart).
But for now, the preference is for long positions.
Support levels: 4666.0, 4642.0, 4620.0, 4535.0, 4460.0, 4360.0, 4300.0
Resistance levels: 4756.0, 4800.0
Trading recommendations
Sell Stop 4660.0. Stop-Loss 4760.0. Targets 4535.0, 4460.0, 4360.0, 4300.0
Buy Stop 4760.0. Stop-Loss 4660.0. Targets 4800.0, 4900.0, 5000.0
