S&P 500 Price Analysis: Dead-cat bounce could see US stocks fall to 2300 level, horrid NFP

S&P 500 remains vulnerable below the 2540/2600 resistance zone.
US Nonfarm Payrolls plummeted by 701K in March.

Flavio Tosti Independent Analyst

S&P 500 daily chart

The S&P 500 remains vulnerable below the 2540/2600 resistance zone as the US Nonfarm Payrolls plummeted by 701K in March. The bullish reaction at the end of March might be a dead-cat bounce as sellers could come back en masse to the market to drive it to the 2300 and 2200 levels on the way down while resistance should be expected near the 2540, 2600 and 2700 levels.

Additional key levels

SP 500

Overview
Today last price	2514.25
Today Daily Change	-11.75
Today Daily Change %	-0.47
Today daily open	2526

Trends
Daily SMA20	2546.65
Daily SMA50	2968.6
Daily SMA100	3084.6
Daily SMA200	3028.93

Levels
Previous Daily High	2535
Previous Daily Low	2436.25
Previous Weekly High	2641
Previous Weekly Low	2188.5
Previous Monthly High	3137
Previous Monthly Low	2188.5
Daily Fibonacci 38.2%	2497.28
Daily Fibonacci 61.8%	2473.97
Daily Pivot Point S1	2463.17
Daily Pivot Point S2	2400.33
Daily Pivot Point S3	2364.42
Daily Pivot Point R1	2561.92
Daily Pivot Point R2	2597.83
Daily Pivot Point R3	2660.67

Author

Flavio Tosti

Independent Analyst

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