FXStreet reports that the Credit Suisse analyst team suggests that above 4171/69, the S&P 500 Index can maintain an immediate upward bias, reinforced by the turn higher in daily MACD momentum for a move back to and above the 4238 high, then 4260.

“With daily MACD momentum now crossing higher though, we now look for the uptrend to start to regain momentum again and we look for a break above 4218 to clear the way for a move back to the 4238 record high, above which we see resistance seen at 4260 next.” 

“Big picture, we continue to look for a move to 4350.” 

“Support moves to 4198 initially, then 4183, with the 13-day exponential average and recent price gap at 4176/69 now ideally holding.”