Home S&P500 Technical Analysis: Stocks consolidating above 2,877.00 support
FXStreet News

S&P500 Technical Analysis: Stocks consolidating above 2,877.00 support

  • The S&P500 is trading in a bull trend.  
  • The S&P500 broke below the bull trendline and the 200-period simple moving average on the 4-hour chart but is being supported above 2,877.00 (January swing high).
  • As long as the market holds above the support bulls will try to create a new bull leg towards 2,900.00 figure and 2,917.00 (August 29 high).  

S&P500 4-hour chart

Spot rate:                  2,889.00
Relative change:      -0.04%      
High:                         2,891.50
Low:                          2,863.00

Main trend:               Bullish

Resistance 1:           2,900.00 figure
Resistance 2:           2,917.00 August 29 high
Resistance 3:           2,939.50 all-time high
Resistance 4:           2,950.00, 161.8% Fibonnacci extension (Aug-Sept, high/low)
Resistance 5:           3,000.00 round figure

Support 1:                2,877.00 January swing high
Support 2:                2,863.75 August 7 high
Support 3:                2,853.00 August 9 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.