S&P500 Technical Analysis: US Stocks remain fragile as bears keep the market below the 200-day simple moving average

• The S&P500 is trading below its 100 and 200-day simple moving averages (DSMA) suggesting a bearish bias.  
• The market is unable to build any kind of convincing bullish recovery following the sell-off seen on October 10. The market is rejecting the 2,800.00 level as well as the 100 and 200 DSMA while Technical indicators are bearish.  
• Targets to the downside might be located near 2,710.00 (October low) and 2,647.25 March 2 low.

S&P500 daily chart  

Spot rate:                  2,755.25
Relative change:      -0.39%      
High:                         2,780.50
Low:                          2,748.75

Main trend:               Bullish
Short-term trend:      Bearish

Resistance 1:           2,763.50 July 11 low
Resistance 2:           2,800.00 figure
Resistance 3:           2,834.25 current October 10 low
Resistance 4:           2,853.00 August 9 low
Resistance 5:           2,863.75 August 7 high
Resistance 6:           2,877.00 January swing high
 
Support 1:                2,718.75 April 17 high
Support 2:                2,710.00 October low
Support 3:                2,700.00 figure
Support 4:                2,647.25 March 2 low