S&P 500 Index rallying to the major resistance 2820
Following the US-Chinese trade agreement the S&P 500 Index has gained more short-term strength.
It is now close to the major resistance level around 2810/20.
The next higher resistance is at 2840/2860 followed by 2930/2940.
While the medium-term outlook has improved to neutral it will take a rise above 2820 to signal more medium-term strength to positive.
The long-term outlook would be upgraded if 2860 is broken.
I expect that another correction will take over at 2820.