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8 May 2020
S&P 500 Price Analysis: US stocks hold near weekly highs after NFP
- The bull-run from mid-March remains intact.
- The level to beat for buyers is the 2950 resistance.
- The NFP is less disastrous than expected by analysts.
S&P 500 daily chart
The S&P 500 is printing higher highs and lows as the bullish recovery from mid-march remains intact. Bulls broke above the 2900 resistance and are en route toward the 2950 level and 3000 big figure. Support can be seen near the 2900 and 2850 levels. The NFP report for April shows the loss of 20,500k jobs vs. -22,000k forecast by analysts, which is marginally less disastrous than anticipated.
Additional key levels