The S&P 500 rallies as upbeat US GDP eases fears of an economic downturn. On the daily chart, a close above the psychological level of 4000 and a bullish MA cross suggest that sentiment could be turning around. A break above 4050 from the start of the mid-December liquidation indicates solid buying pressure. Its breach would carry the index to the recent spike at 4130, leaving 4015 as a fresh support. Further down, the confluence of the swing low 3950 and the 20-day moving average is a key level to maintain the recovery.
