S&P 500 Upside Run Stays Unrelenting Towards 3800 Levels Preparing for a $1.9 Trillion Stimulus


S&P 500 Price Analysis – January 19

The S&P 500 extend prior days upside run amid a quiet European session early on Tuesday staying unrelenting towards the 3800 levels. The risk barometer rises for the second consecutive day as global markets prepare for fiscal relief goals up to $1.9 trillion.

Key Levels
Resistance Levels: 4000, 3900, 3840
Support Levels: 3735, 3691, 3546
S&P 500 Long term Trend: Bullish
On the daily charts, the bulls have gone ahead moving positively with effort away from sideways trading and the index may attempt to sustain the breach of the resistance level at 3800. Meanwhile, if the bulls cannot take back the reins at this juncture, then there is scope for a retracement towards the next support at the 3735 levels.

The longer-term bias stays cautiously higher with further resistance seen beyond 3800 initially, above which is required to clear the path for a further advance towards 3840 levels. In due course though we may see a tougher test of a cluster of projection levels in the 3900 band and beyond.
S&P 500 Short term Trend: Bullish
The S&P 500 surged higher during the early Tuesday trading session. The index is trading above the moving average 5 at the upside channel pattern at the 3800 levels. Technical indicators demonstrate that the index is likely to edge higher during the following trading session. The potential target for bulls would be at the 3840 levels.

However, the horizontal resistance at 3840 could provide resistance for the currency index within this session and the next. On the other hand, if the S&P 500 returns lower, it is supported on dips by the 4 hours moving average of 13 around the 3780 levels where buyers may re-emerge.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.