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S&P500 Technical Analysis: US Stocks down almost 2% as the bullish inverse Head-and-Shoulders is at risk

S&P500 daily chart

  • The S&P500 is trading in a bear trend below the 200-day simple moving average.  
  • The S&P500 printed a bullish inverse head-and-shoulders pattern, however, if bears break below the right shoulder, it can become a warning sign for bulls.  
  • Technical indicators are in bearish territories suggesting that the path of least resistance is to the downside.  

Additional key levels at a glance:

SP 500

Overview:
       Last Price:  2692.5
       Daily change:  -4.9e+3  pips
       Daily change:  -1.80%
       Daily Open:  2741.75
Trends:
       Daily SMA20:  2728.32
       Daily SMA50:  2807.14
       Daily SMA100:  2829.87
       Daily SMA200:  2768.45
Levels:
       Daily High:  2741.75
       Daily Low:  2741.75
       Weekly High:  2791.75
       Weekly Low:  2670.75
       Monthly High:  2939.5
       Monthly Low:  2604.5
       Daily Fibonacci 38.2%:  2741.75
       Daily Fibonacci 61.8%:  2741.75
       Daily Pivot Point S1:  2741.75
       Daily Pivot Point S2:  2741.75
       Daily Pivot Point S3:  2741.75
       Daily Pivot Point R1:  2741.75
       Daily Pivot Point R2:  2741.75
       Daily Pivot Point R3:  2741.75

 

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