S&P500 Technical Analysis: US Stocks snap back up and close above 2,800.00 figure
|- The S&P500 had a strong bull move above 2,800.00 this Tuesday after last week crash.
- Bulls seem determined to resume the bull trend and they will have to keep the market above the 200-day simple moving average in order to create a strong base.
- The RSI, MACD and Stochastic indicators are recovering from oversold condition but bulls will need to reclaim the 100 and 50 SMA in order to get out of the woods.
S&P500 daily chart
Spot rate: 2,815.00
Relative change: 2.52%
High: 2,817.50
Low: 2,751.75
Main trend: Bullish
Short-term trend: Bearish
Resistance 1: 2,834.25 current October 10 low
Resistance 2: 2,853.00 August 9 low
Resistance 3: 2,863.75 August 7 high
Resistance 4: 2,877.00 January swing high
Support 1: 2,800.00 figure
Support 2: 2,763.50 July 11 low
Support 3: 2,718.75 April 17 high
Support 4: 2,710.00 October 11 low
Support 5: 2,700.00 figure
Support 6: 2,647.25 March 2 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.