S&P 500 weekly Technical Analysis

The S&P500 index continues with its uptrend, supported by the monetary stimulus measures and high liquidity. The current levels are almost 300 points higher than the October 2007 peak at 1576. The psychological barrier at 1660 was breached, and near term resistances can be sought at 1900 and 2000. In case of a trend reversal, the supports on the downside lie at 1851, 1738 and 1687.