S&P500 Price Analysis: Index crashes more than 15% in 7 days, lowest since October 2019

The S&P 500 is down more than 15% in only seven days.
The S&P 500 is trading below the 200-day simple moving average (DMA).
The Coronavirus spread is sending global markets into panic.

Flavio Tosti Independent Analyst

S&P 500 daily chart

Sellers are selling the American stock index relentlessly. The benchmark is about to records its worst monthly decline since May 2019. The S&P500 is now trading below the critical 200-day simple moving average (DMA) as the market is challenging the 2900 support level. The spread of the Coronavirus is making traders worried about the heath of the global economy. The path of least resistance remains down with 2800 and 2700 as potential targets.

Additional key levels

SP 500

Overview
Today last price	2885
Today Daily Change	-65.75
Today Daily Change %	-2.23
Today daily open	2950.75

Trends
Daily SMA20	3296.01
Daily SMA50	3278.14
Daily SMA100	3181.59
Daily SMA200	3056.14

Levels
Previous Daily High	3105
Previous Daily Low	2945.75
Previous Weekly High	3395.25
Previous Weekly Low	3328.75
Previous Monthly High	3338.5
Previous Monthly Low	3190.5
Daily Fibonacci 38.2%	3006.58
Daily Fibonacci 61.8%	3044.17
Daily Pivot Point S1	2896
Daily Pivot Point S2	2841.25
Daily Pivot Point S3	2736.75
Daily Pivot Point R1	3055.25
Daily Pivot Point R2	3159.75
Daily Pivot Point R3	3214.5

Author

Flavio Tosti

Independent Analyst

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