S&P500 Index technical analysis: US stocks reach a new all-time high at 3,004

• The S&P500 is retracing down after hitting 3,004.
• Immediate supports are seen at 2,985 and 2,950.

 S&P500 daily chart

The S&P500 is retreating slightly after establishing a new all-time high at 3,004 on an intraday basis. Bulls want to keep the raly going by targeting the 3,010 and 3,045 level.

S&P500 4-hour chart

The market is trading above its main simple moving averages (SMAs), suggesting bullish momentum in the near term. Support is at 2,985; 2,950 and 2,910 level. 

Additional key levels