S&P500 Technical Analysis: US Stocks drop from the all-time high to the 2,900.00 handle

S&P500 daily chart

• The market retreated after reaching an all-time high at 2,959.75.  

S&P500 4-hour chart

• The market found support at the 2,900.00 mark.  

S&P500 30-minute chart

• The index is trading below its main SMAs suggesting bearish momentum in the short-term.
• If bears break the 2,900.00 figure a continuation down to 2,880.00 can be on the cards.  
• Resistances are seen at 2,930.00 and 2,948.00 level.

Additional key levels