S&P 500 (CME) (Z3) Intraday: bullish bias above 4505.00.
Pivot: 4505.00
Our preference: long positions above 4505.00 with targets at 4525.00 & 4540.00 in extension.
Alternative scenario: below 4505.00 look for further downside with 4485.00 & 4470.00 as targets.
Comment: a support base at 4505.00 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
4555.00
4540.00
4525.00
4516.25 Last
4505.00
4485.00
4470.00
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