The S&P 500 continues to climb as weekly jobless claims meet estimates.
A series of higher highs suggests that the bullish sentiment is still intact. 4480 would be the next stop as momentum traders jump in. The RSI has broken into the overbought territory, which could temper buyers’ fever to raise their stakes.
The index may look to consolidate its gains after a new all-time high. 4440 is fresh support in case of retracement. 4425 near the upper band of the previous consolidation range would be the second line of defense.
