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  • The S&P500 is trading in a bear trend below the 200-day simple moving average (SMA).  
  • This Friday bulls managed to reverse earlier daily losses however the index is still under strong bearish pressure.
  • While bulls might try to come back at the start of next week they would need a daily close above 2,700.00 figure otherwise bears are likely to keep the downward bias intact with 2,600.00 as next target.  

S&P500 daily chart

Spot rate:                  2,672.00
Relative change:       -0.38%      
High:                         2,692.50
Low:                          2,627.75

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