S&P 500 ST: bullish bias above 2710.00 02-02-2018It will be up to you dear friends you're not upset at all

hi evryone,

Here are the analysis on
S&P on 02-02-2018

It will be up to you dear friends you're not upset at all
Long positions above 2710.00 with targets at 2872.00 & 2928.00 in extension.
Pivot: 2710.00

Our preference: long positions above 2710.00 with targets at 2872.00 & 2928.00 in extension.

Alternative scenario: below 2710.00 look for further downside with 2650.00 & 2595.00 as targets.

Comment: the RSI is mixed with a bullish bias. The S&P 500 index remains bullish above 2710 as the 50-day moving average acts as Key support which also corresponds to the 50% fibonacci retracement of the swing low of Nov 15 and the record high of 2872 . Caution is warranted as the index has finally closed below the 20-day simple moving average. The RSI has broken below its 50 level which is a warning sign of possible further weakness.

Supports and resistances:
2990.00 ***
2928.00 *
2872.00 **
2761.40 Last
2710.00 **
2650.00 **
2595.00 ***