technical analysis chart

Technical Breaks, Ideas and Insights – S&P 500 Index Makes Positive Break

The S&P 500 Index made a positive break recently by breaking upwards through its downwards sloping resistance line at 40.50.
Not only is this a breakout of its triangle formation but also a breakout of its short-term bear channel.
The Index could potentially test its resistance level at 43.05 and if breached to the upside the Index could rally to the next resistance level at 45.40, in our view.

This report provides a technical analysis of the S&P 500 Index.