S&P 500 Analysis after closing bell

• S&P 500 closed the day up 6.78(0.61%).
• For the index to move up from here the recent price of 1131 and the resistance at 1136 has to be broken convincingly tomorrow.
• It is very likely that the index will find resistance from here and a correction may start. But has a good trend line support in its daily time frame.
• The index is trading above its 50 and 200 DMA. One thing to note here is that there are many instances of DEATH and GOLDEN crosses giving whipsaws. Here for example the price has gone above 50 and 200 DMA after the death cross. But the price is not pulling away from the 200 DMA. So if the trend line in daily chart breaks the threat of death cross is still there for the bulls.