S&P 500 Price Analysis: US stocks on the back foot amidst worst US jobless claims in history

S&P 500 is under pressure below the 2515 level.
US jobless claims reach a new historic high at 6.648 million which could weigh heavily on the economy.

Flavio Tosti Independent Analyst

S&P 500 daily chart

The S&P 500 remains under pressure below the 2515 resistance as the US jobless claims hit a new record high at 6.648 million painting a gloomy picture for the economy. In this context, the index could decline further towards the 2400 and 2300 support levels in the medium term while resistance should emerge near 2515 and 2600 levels.

Additional key levels

SP 500

Overview
Today last price	2462.75
Today Daily Change	-7.25
Today Daily Change %	-0.29
Today daily open	2470

Trends
Daily SMA20	2571.54
Daily SMA50	2984.62
Daily SMA100	3090.32
Daily SMA200	3030.86

Levels
Previous Daily High	2558.25
Previous Daily Low	2447.5
Previous Weekly High	2641
Previous Weekly Low	2188.5
Previous Monthly High	3137
Previous Monthly Low	2188.5
Daily Fibonacci 38.2%	2489.81
Daily Fibonacci 61.8%	2515.94
Daily Pivot Point S1	2425.58
Daily Pivot Point S2	2381.17
Daily Pivot Point S3	2314.83
Daily Pivot Point R1	2536.33
Daily Pivot Point R2	2602.67
Daily Pivot Point R3	2647.08

Author

Flavio Tosti

Independent Analyst

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