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  • The S&P500 had its worse daily decline since February 2018.
  • The S&P500 is currently testing the 200-day simple moving average (DSMA) at 2,766.79 on the daily chart.  
  • A break below the 200 DSMA should open the gates to more losses towards 2,718.75 April 17 high and 2,700.00 figure. However, if the 200 DSMA holds prices the market can have a rebound.  

S&P500 daily chart

Spot rate:                  2,768.00
Relative change:      -4.00%      
High:                         2,887.40
Low:                          2,766.00

Main trend:               Bullish
Short-term trend:      Bearish

Resistance 1:           2,800.00 figure
Resistance 2:           2,834.25 current October 10 low
Resistance 3:           2,853.00 August 9 low
Resistance 4:           2,863.75 August 7 high
Resistance 5:           2,877.00 January swing high
 

Support 3:                2,763.50 July 11 low
Support 3:                2,718.75 April 17 high
Support 3:                2,700.00 figure