S&P500 technical analysis: The index consolidates above 2,910.00 support

• The S&P500 is in consolidation mode below the 2,940.00 resistance.
• The level to beat for bears is the 2,880.00 support.  

S&P500 daily chart

The S&P500 is trading inside Wednesday’range. Last week, the index found resistance at 2,965.00 new all-time high.

S&P500 4-hour chart

The stock index is trading below its 50 SMA suggesting a correction down in the medium term. Bulls want a continuation of the bull trend by breaking above 2,940.00 resistance in order to revisit the all-time high. On the flip side, if the S&P500 breaks 2,910.00 support the bears can reach 2,880.00 and 2,840.00 on the way down.

Additional key levels