S&P500 Technical Analysis: US Stocks recovering some ground lost as bulls challenge the 2,700.00 figure

• The S&P500 is trading below its 200-day simple moving average suggesting a bearish bias.  
• The S&P500 is currently rebounding from above the 2,647.25 level (March 2 low) as bulls are challenging the 2,700.00 figure. Technical indicators remain firmly in bearish territories suggesting that much work is still to be done for bulls to retake control of the market.  
• The 2,700.00 is likely the next key level for both bulls and bears. Failure to break above it could lead to a resumption of the bear trend.  

S&P500 4-hour chart

Spot rate:                  2,700.25
Relative change:        0.96%      
High:                         2,706.00
Low:                          2,663.25

Main trend:               Bearish
 
Resistance 1:            2,700.00 figure
Resistance 2:            2,718.75 April 17 high
Resistance 3:            2,763.50 July 11 low
Resistance 4:            2,800.00 figure
Resistance 5:            2,834.25 current October 10 low
 
Support 1:                2,647.25 March 2 low
Support 2:                2,600.00 figure
Support 3:                2,530.75, 2018 low