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S&P 500 Price Analysis: US stocks on the back foot amidst worst US jobless claims in history

  • S&P 500 is under pressure below the 2515 level.
  • US jobless claims reach a new historic high at 6.648 million which could weigh heavily on the economy.
 

S&P 500 daily chart

 
The S&P 500 remains under pressure below the 2515 resistance as the US jobless claims hit a new record high at 6.648 million painting a gloomy picture for the economy. In this context, the index could decline further towards the 2400 and 2300 support levels in the medium term while resistance should emerge near 2515 and 2600 levels. 
 

Additional key levels 

SP 500

Overview
Today last price 2462.75
Today Daily Change -7.25
Today Daily Change % -0.29
Today daily open 2470
 
Trends
Daily SMA20 2571.54
Daily SMA50 2984.62
Daily SMA100 3090.32
Daily SMA200 3030.86
 
Levels
Previous Daily High 2558.25
Previous Daily Low 2447.5
Previous Weekly High 2641
Previous Weekly Low 2188.5
Previous Monthly High 3137
Previous Monthly Low 2188.5
Daily Fibonacci 38.2% 2489.81
Daily Fibonacci 61.8% 2515.94
Daily Pivot Point S1 2425.58
Daily Pivot Point S2 2381.17
Daily Pivot Point S3 2314.83
Daily Pivot Point R1 2536.33
Daily Pivot Point R2 2602.67
Daily Pivot Point R3 2647.08

 

 

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