S&P 500 Daily Chart !

The above chart is the S&P 500 Daily chart, a few observations;

1. The Price structure is still bullish. As the sequence of HH and HL still intact.
2. Similarly the three key EMA's are bullishly inclined with 20 above the 50 and 50 above the 200.
3. A recent negative divergence played out and the price pulled back to the 20 Ema support. Such momentum divergences should be played for small targets a.k.a price correction and should not be treated as trend reversals. For that I prefer the Price to break the HH-HL sequence.

There can be many reasons attributed to this pullback; the Crude, the Dollar, the Brexit etc etc but for the TA its just a plain case of multiple resistances at the top (shaded in the red band) and thats how it should be treated and traded! Similarly we have the support (shaded in the blue band ) below.

The over head resitance is 2110-2115
The lower supports are at 2080-2090