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S&P 500 Index technical analysis: US stocks slide below 2,985.00 as trade talks make no progress

FX Street
Updated:
  • The S&P500 broke below  the 2,985.00  resistance.
  • Support can be seen at 2,965  and the 2,950  level.
     

S&P500 daily chart

The S&P 500 is retreating sharply below the 3,000.00 mark among stalling trade talks and mixed earnings.


S&P500 4-hour chart

Bears broke below the 2,985.00 resistance as the market is testing the 100 SMA. The correction down seem to have room to the downside towards 2,965.00 and 2,950.00. Looking up resistance is seen at 2,985.00 and 3,010.00


Additional key levels

 

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