S&P500 technical analysis: US stocks downfall intensify as the trade war is taking its toll
|- US stocks are on the way down as the trade war intensify.
- The index broke below the 200-period simple moving average (SMA).
S&P500 daily chart
The S&P500 Index is trading in a correction down below the 200-period simple moving average (SMA).
S&P500 4-hour chart
The index is under selling pressure below its main SMAs. The S&P500 broke below the 2,760.00 level. The market is weak and 2,720.00 and the 2,700.00 handle can become bear targets. Resistance is at the 2,770.00 and 2,800.00 levels.
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