S&P500 Technical Analysis: US Stocks still fragile in the aftermath of last week crash
|- The S&P500 crashed last Wednesday and drove prices below the 200-day simple moving average.
- The S&P500 is showing no sign of recovery suggesting that further losses can be on the cards. The RSI, MACD and Stochastic indicators are bearishly configured.
- Supports to the downside can be expected near 2,718.75 (April 17 high), 2,700.00 figure and 2,647.25 (March 2 low) but nothing shows that they should hold.
S&P500 daily chart
Spot rate: 2,745.75
Relative change: -0.86%
High: 2,775.25
Low: 2,743.75
Main trend: Bullish
Short-term trend: Bearish
Resistance 1: 2,763.50 July 11 low
Resistance 2: 2,800.00 figure
Resistance 3: 2,834.25 current October 10 low
Resistance 4: 2,853.00 August 9 low
Resistance 5: 2,863.75 August 7 high
Resistance 6: 2,877.00 January swing high
Support 1: 2,718.75 April 17 high
Support 2: 2,710.00 October 11 low
Support 3: 2,700.00 figure
Support 4: 2,647.25 March 2 low
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