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S&P500 Price Analysis: Largest daily advance in one decade after major selloff, trades near 2700 level

  • S&P500 rebounds sharply after seeing worst selloff since 1987 on Thursday. 
  • Resistances are seen at the 2700 and 3100 price levels.
 

S&P500 daily chart

 
The S&P500 Index is retracing back up sharply following one of the worst days in history on Thursday as the Coronavirus is spreading fear. As the market is pulling back up, the index could climb towards the 2900 and 3100 price levels in the coming sessions. However, as the S&P500 remains fragile the move up may end up being a dead-cat bounce if the 2400 support fails to hold prices.  
 

Additional key levels 

SP 500

Overview
Today last price 2698
Today Daily Change 249.75
Today Daily Change % 10.20
Today daily open 2448.25
 
Trends
Daily SMA20 3078.92
Daily SMA50 3210.86
Daily SMA100 3172.09
Daily SMA200 3060.77
 
Levels
Previous Daily High 2670
Previous Daily Low 2431.5
Previous Weekly High 3137
Previous Weekly Low 2899.25
Previous Monthly High 3395.25
Previous Monthly Low 2854.5
Daily Fibonacci 38.2% 2522.61
Daily Fibonacci 61.8% 2578.89
Daily Pivot Point S1 2363.17
Daily Pivot Point S2 2278.08
Daily Pivot Point S3 2124.67
Daily Pivot Point R1 2601.67
Daily Pivot Point R2 2755.08
Daily Pivot Point R3 2840.17

 

 

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