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  • The S&P500 is currently in a strong pullback down below the 50, 100 and 200-day simple moving average (SMA).
  • The S&P500 shows no sign of bullish life as the index remains capped below the 2,700.00 key level. Technical indicators remain firmly bearish although the RSI and Stochastic are in oversold condition.  
  • Targets to the downside can be located near 2,600.00 and then 2,530.75 (2018 low). A break above 2,700.00 might give some hope for bulls but much work remains to be done.

 

Main trend:               Bearish
 
Resistance 1:           2,700.00 figure
Resistance 2:           2,718.75 April 17 high
Resistance 3:           2,763.50 July 11 low
Resistance 4:           2,800.00 figure
Resistance 5:           2,834.25 current October 10 low
 
Support 1:                2,647.25 March 2 low
Support 2:                2,600.00 figure
Support 3:                2,530.75, 2018 low

 

Additional key levels at a glance:

SP 500

Overview:
       Last Price:  2641.75
       Daily change:  1.8e+2  pips
       Daily change:  0.0663%
       Daily Open:  2640
Trends:
       Daily SMA20:  2779.02
       Daily SMA50:  2855.36
       Daily SMA100:  2829.22
       Daily SMA200:  2766.81
Levels:
       Daily High:  2708
       Daily Low:  2604.5
       Weekly High:  2780.5
       Weekly Low:  2627.75
       Monthly High:  2939.5
       Monthly Low:  2864.25
       Daily Fibonacci 38.2%:  2644.04
       Daily Fibonacci 61.8%:  2668.46
       Daily Pivot Point S1:  2593.67
       Daily Pivot Point S2:  2547.33
       Daily Pivot Point S3:  2490.17
       Daily Pivot Point R1:  2697.17
       Daily Pivot Point R2:  2754.33
       Daily Pivot Point R3:  2800.67