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  • The S&P500 is currently in  a deep pullback below the 50, 100 and 200-day simple moving average (SMA).
  • The S&P500 dropped to the 2,600.00 level and recovered some ground already, however the market remains fragile with technical indicators in negative but oversold territories. Corrections to the upside are likely going to be capped by the 2,700.00 key resistance.  
  • Targets to the downside are likely located near 2,600.00 and then 2,530.75  (2018 low).  

S&P500 4-hour chart

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:  2644.25
       Daily change:  -1.9e+3  pips
       Daily change:  -0.695%
       Daily Open:  2662.75
Trends:
       Daily SMA20:  2793.1
       Daily SMA50:  2860.09
       Daily SMA100:  2830.35
       Daily SMA200:  2766.94
Levels:
       Daily High:  2692.5
       Daily Low:  2627.75
       Weekly High:  2780.5
       Weekly Low:  2627.75
       Monthly High:  2939.5
       Monthly Low:  2864.25
       Daily Fibonacci 38.2%:  2652.48
       Daily Fibonacci 61.8%:  2667.77
       Daily Pivot Point S1:  2629.5
       Daily Pivot Point S2:  2596.25
       Daily Pivot Point S3:  2564.75
       Daily Pivot Point R1:  2694.25
       Daily Pivot Point R2:  2725.75
       Daily Pivot Point R3:  2759