News

S&P500 Index technical analysis: The yield curve inversion sends US equities into panic

  • The S&P500 erases Tuesday's gains as the yield curve inverts. 
  • The market could continue declining towards the 2,814.00 and 2,790.00 levels.
 
 

S&P500 daily chart

 

The S&P 500 Index broke below the 2,900.00 handle and the 50/100 day simple moving averages (DSMAs) as the yield curve inversion is seen as a recession signal by investors.
  

S&P500 4-hour chart

 
 
The market broke several levels of support and below its main SMAs. The bears are back in control and could drive the market lower towards 2,814.00 and 2,790.00 support in the medium term.

S&P500 30-minute chart

 
The market is under pressure below the main SMAs. The 2,850.00 level could act as resistance as well as the 2,870.00 level.

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.