S&P 500 New York Price Forecast: US stocks hold above 3000 mark, bullish

 

 

Following the crash seen in February-March, the S&P 500 is bouncing up sharply while regaining most of the losses. The market is pushing up in 2.5-month highs above the main SMA on the daily chart. The index broke above the 3000 critical resistance which can be seen as a positive sign. As bulls remain firmly in control, the market is looking at the 3075/3100 price zone and the 3180 resistance in the medium-term. On the other hand, support can be seen near the 3000, 2960 and 2900 levels initially.