S&P 500 moving up to test weekly highs after the open

April 29, 2014 by Nanakiver3

So far the S&P 500 has moved higher after the open with current short term resistance coming in at 1878 on the cash market which looks like we will break, yesterdays strong rebound from the lows hints to further upside to test record highs, the record highs come in at 1899 on the cash market and should the rhetoric from the FED come in more dovish expect this to be broken, the NFP on Friday will then be the next key event for the overall direction.


S&P 500 1 hour chart

It does seem nothing can keep the market heading south for long with fresh buying interest coming in on any dips.