In the weekly charts, S&P 500 is trading in an upward channel.
S&P 500 is near its crucial support of 20-days SMA. If it breaks this support, it will possibly test the 50-days SMA level.
S&P 500 will follow an uptrend in the coming weeks.
The S&P 500 crucial support level is at 4,424.38 which is near 20 days SMA as of now. There are no signs of a bearish trend.
The bulls have a tight grip on S&P 500.
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