s&p 500 pre market-watch 1638 as supports targets 1680-1700

s&p 500 pre market view

s&P 500 index yesterday closed at 1658 with gains.in last 19 session only 3 session seen negative closing while 16 session closed with gains.supporting bull market.on weekly chart in last 4 week we seen 110+ points run from bottom.while on monthly chart this is 7th gaining month for s&P index in straight.

here traders must watch 1638 as small support on downside and expect 1680-1700 levels as targets in next 1-2 session.closing below 1638 will disturb technical and may show sharp correction moves and lower levels upto 1620 to 1570.

on daily chart ,s&P index week average is 1643then comes month average at 1608 while in last 1570 is 3month average.all momentum indicators are in overbought zone but trending strong on buying demand.

s&P index in last 1 month time period given 6.9% return,nasdaq given 7.9% return while dow rallied 4.6%.while s&p vix down 26%.

from long term s&P index in bull market which has weekly closing support at 1600 for now and on upside 1730 and then 1820as upside target and trending towards them.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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