S&P500 technical analysis: US stocks might be at the edge of a cliff as bears challenge the 2,800.00 mark
FXStreet News

S&P500 technical analysis: US stocks might be at the edge of a cliff as bears challenge the 2,800.00 mark

S&P500 daily chart
 
The S&P500 Index is in a bull trend above its 100 and 200-period simple moving averages (SMAs). The market dropped sharply this Tuesday as it is about to end the day just near the 2,800.00 figure.

S&P500 4-hour chart

The market is trading below its main SMAs suggesting bearish momentum. If bear break below the 2,800.00 level sellers could send the market towards 2,760.00; 2,720.00 and 2,700.00 levels. Resistances are seen at 2,840.00 and 2870.00 levels.


Additional key levels

 

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.