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S&P500 Technical Analysis: US Stocks start the week on the backfoot

S&P500 daily chart

  • The S&P500 Index is having a deep pullback below the 100 and 200-day simple moving averages (SMAs).
  • Bulls have retaken the 50 SMA.

S&P500 4-hour chart

  • The S&P500 is above the 100 and 200 SMAs suggesting bullish momentum in the medium-term.  

S&P500 30-minute chart

  • The market is trading below its main SMAs suggesting a bearish bias.  
  • Resistance is seen at the 2,645.00 and 2,655.00 level, while support to the downside is seen at 2,625 and 2,615.00.  

Additional key level

SP 500

Overview:
       Today Last Price:  2643.75
       Today Daily change:  -22.75  points
       Today Daily change %:  -0.85%
       Today Daily Open:  2666.5
Trends:
       Daily SMA20:  2603.1
       Daily SMA50:  2605.12
       Daily SMA100:  2706.13
       Daily SMA200:  2751.85
Levels:
       Previous Daily High:  2666.5
       Previous Daily Low:  2666.5
       Previous Weekly High:  2672.5
       Previous Weekly Low:  2613
       Previous Monthly High:  2813.5
       Previous Monthly Low:  2340.25
       Daily Fibonacci 38.2%:  2666.5
       Daily Fibonacci 61.8%:  2666.5
       Daily Pivot Point S1:  2666.5
       Daily Pivot Point S2:  2666.5
       Daily Pivot Point S3:  2666.5
       Daily Pivot Point R1:  2666.5
       Daily Pivot Point R2:  2666.5
       Daily Pivot Point R3:  2666.5

 

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