S&P500 Technical Analysis: US Stocks reject 2,800.00 as bears set their eyes on October low

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  • The S&P500 remains under pressure following the recent strong pullback down.
  • The market rejected the 2,800.00 level and looks ready to test the current October low. The indicators remain weak and suggest further losses ahead.
  • Support can be seen near 2,718.75 April 17 high and 2,710.00 October 11 low.  

S&P500 daily chart

Spot rate:                  2,766.00
Relative change:      -0.29%     
High:                         2,799.00
Low:                          2,761.00

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 1:                2,763.50 July 11 low
Support 2:                2,718.75 April 17 high
Support 3:                2,710.00 October 11 low
Support 4:                2,700.00 figure
Support 5:                2,647.25 March 2 low

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