25 May 2020
S&P 500 Price Analysis: US stocks en route to the 3000 mark and beyond
- S&P 500 bullish recovery from mid-March stays intact.
- The level to beat for bulls is the 3000 mark.
S&P 500 daily chart
After the February-March crash, the S&P 500 has been recovering a great part of its losses. The index is pressuring the May’s highs above the 100 SMA on the daily chart. As buyers stay firmly in charge, a run to the 3000 figure appears imminent. A sustained break above the mentioned level can see the S&P 500 hit the 3075/3100 price zone in the medium-term. On the flip side, support can be seen near the 2900 and 2850 levels.
Additional key levels