Home S&P500 Technical Analysis:  Inverse Head-and-Shoulders pattern can send US Stocks to the 2,820.00 level
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S&P500 Technical Analysis:  Inverse Head-and-Shoulders pattern can send US Stocks to the 2,820.00 level

S&P500 daily chart

  • The S&P500 printed an inverse head-and-shoulders pattern, which can potentially send the index up in the coming days and weeks.  

S&P500 4-hour chart

  • The S&P500 found strong support at the 2,680.00 level as the bulls reclaimed the 100-period simple moving average (SMA).  
  • Technical indicators are in positive territories suggesting continued bullish momentum.  
  • The bull target is at 2,820.00 swing high. A bear breakout below 2,680.00 would invalidate the bullish momentum.

S&P500 30-minute chart

  • The market is almost in full bull mode on the 30-minute chart.  
  • The S&P500 broke above the 50, 100 and 200 SMA while technical indicators are in positive territories.  

 

Additional key levels at a glance:

SP 500

Overview:
       Last Price:  2741.75
       Daily change:  8.5e+2  pips
       Daily change:  0.311%
       Daily Open:  2733.25
Trends:
       Daily SMA20:  2729.16
       Daily SMA50:  2813.38
       Daily SMA100:  2830.72
       Daily SMA200:  2768.26
Levels:
       Daily High:  2736
       Daily Low:  2670.75
       Weekly High:  2818.75
       Weekly Low:  2713.5
       Monthly High:  2939.5
       Monthly Low:  2604.5
       Daily Fibonacci 38.2%:  2711.07
       Daily Fibonacci 61.8%:  2695.68
       Daily Pivot Point S1:  2690.67
       Daily Pivot Point S2:  2648.08
       Daily Pivot Point S3:  2625.42
       Daily Pivot Point R1:  2755.92
       Daily Pivot Point R2:  2778.58
       Daily Pivot Point R3:  2821.17

 

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