- The S&P500 erases Tuesday's gains as the yield curve inverts.
- The market could continue declining towards the 2,814.00 and 2,790.00 levels.
S&P500 daily chart
The S&P 500 Index broke below the 2,900.00 handle and the 50/100 day simple moving averages (DSMAs) as the yield curve inversion is seen as a recession signal by investors.
S&P500 4-hour chart
The market broke several levels of support and below its main SMAs. The bears are back in control and could drive the market lower towards 2,814.00 and 2,790.00 support in the medium term.
S&P500 30-minute chart
The market is under pressure below the main SMAs. The 2,850.00 level could act as resistance as well as the 2,870.00 level.
Additional key levels
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