S&P500 Technical Analysis: Stocks slide before the close
|- The S&P500 finished the day with a slide as the index made virtually a repeat of Wednesday’s trading.The S&P500 is losing steam as it is approaching the all-time-high at 2,875.50. Bulls objective is to push through 2,875.50 level in order to breakout into uncharted territory towards 2,900 figure.
- On the flip side, bears want to breakout below 2,852.00 (this Thursday low) in order to create a reversal down and target 2,845.00 and 2,835.25 August 6 low.
- As the S&P500 is losing momentum below its all-time-high and the 200-period simple moving average (15-m) the bears have a fair chance in having a successful bearish reversal.
S&P 500 15-minute chart
S&P 500 daily chart
Spot rate: 2,851.4
Relative change: 0.01%
High: 2,862.50
Low: 2,852.00
Trend: Bullish / Bearish reversal attempt below 2,852.00
Resistance 1: 2,863.75 August 7 high
Resistance 2: 2,875.50 all-time-high
Resistance 3: 2,900 figure
Support 1: 2,853.00 August 9 low
Support 2: 2,845.00 supply/demand level
Support 3: 2,835.25 August 6 low
Support 4: 2,825.00 August 3 low
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.