The S&P500 is trading in a bull trend, however, bears have taken over in a strong pullback down. The S&P500 broke below the bull trendline and the 200-period simple moving average on the 4-hour chart and is currently trying to stabilize as the Index dropped by almost twice its usual average daily range. Bargain hunters are buying at discounted prices but given the strong sell-off, the market might start a sideways consolidation before any meaningful move. The bias remaisn tilted to the downside as indicators are bearishly configured. S&P500 4-hour chart Spot rate: 2,839.00 Relative change: -1.53% High: 2,887.40 Low: 2,834.30 Main trend: Bullish Short-term trend: Neutral to bearish Resistance 1: 2,853.00 August 9 low Resistance 2: 2,863.75 August 7 high Resistance 3: 2,877.00 January swing highResistance 4: 2,900.00 figure Support 1: 2,834.25 current October 10 low Support 3: 2,800.00 figure Support 3: 2,763.50 July 11 low FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Fed’s Evans: National economy is doing ‘extremely well’ FX Street 4 years The S&P500 is trading in a bull trend, however, bears have taken over in a strong pullback down. The S&P500 broke below the bull trendline and the 200-period simple moving average on the 4-hour chart and is currently trying to stabilize as the Index dropped by almost twice its usual average daily range. Bargain hunters are buying at discounted prices but given the strong sell-off, the market might start a sideways consolidation before any meaningful move. The bias remaisn tilted to the downside as indicators are bearishly configured. S&P500 4-hour chart Spot rate: … Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
