S&P 500: technical analysis and trading recommendations_12/27/2021

S&P 500 W Chart

As we noted above, following the downward correction, S&P 500 futures have rallied again in the past few days. The positive dynamics of the S&P 500 persists and a steady rise into the zone above the local resistance level 4756.0 will be a signal for the resumption of long positions and confirm the scenario for further growth in the index.

S&P 500 D Chart

In an alternative scenario, a breakdown of the support level 4666.0 (ЕМА200 on the 1-hour chart) may trigger a further decline of the S&P 500 with targets at support levels 4620.0 (ЕМА50 on the daily chart), 4460.0 (ЕМА144 on the daily chart), 4360.0 (ЕМА200 on the daily chart), 4300.0 (ЕМА50 on the weekly chart).

S&P 500 H1 Chart

But for now, the preference is for long positions.

Support levels: 4666.0, 4642.0, 4620.0, 4535.0, 4460.0, 4360.0, 4300.0

Resistance levels: 4756.0, 4800.0

Trading recommendations

Sell Stop 4660.0. Stop-Loss 4760.0. Targets 4535.0, 4460.0, 4360.0, 4300.0

Buy Stop 4760.0. Stop-Loss 4660.0. Targets 4800.0, 4900.0, 5000.0