S&P500 INDEX - Weak Movement the Last 6 Months - 07/03/2017 (GMT)

The S&P 500 index is developing within an ascending move for more than seven months climbing 10% and recording an all-time high at 2454 resistance level. Over the last six months, the price is trading within the 2402 support barrier and the 2454 barrier. The rebound on the trend line helped the price to jump slightly higher.

Technically, on the daily chart, the technical indicators seem to be confused. The Relative Strength Index (RSI) is moving near its mid-level whilst the MACD oscillator is falling near the zero line. In addition, the stochastic oscillator is trading within the 20 and 80 levels and created a bullish crossover within its moving averages and the 50-day SMA is moving slightly below the price. The next level to watch is a fresh all-time high.