S&P500 Price Analysis: Largest daily advance in one decade after major selloff, trades near 2700 level

S&P500 rebounds sharply after seeing worst selloff since 1987 on Thursday.
Resistances are seen at the 2700 and 3100 price levels.

Flavio Tosti Independent Analyst

S&P500 daily chart

The S&P500 Index is retracing back up sharply following one of the worst days in history on Thursday as the Coronavirus is spreading fear. As the market is pulling back up, the index could climb towards the 2900 and 3100 price levels in the coming sessions. However, as the S&P500 remains fragile the move up may end up being a dead-cat bounce if the 2400 support fails to hold prices.

Additional key levels

SP 500

Overview
Today last price	2698
Today Daily Change	249.75
Today Daily Change %	10.20
Today daily open	2448.25

Trends
Daily SMA20	3078.92
Daily SMA50	3210.86
Daily SMA100	3172.09
Daily SMA200	3060.77

Levels
Previous Daily High	2670
Previous Daily Low	2431.5
Previous Weekly High	3137
Previous Weekly Low	2899.25
Previous Monthly High	3395.25
Previous Monthly Low	2854.5
Daily Fibonacci 38.2%	2522.61
Daily Fibonacci 61.8%	2578.89
Daily Pivot Point S1	2363.17
Daily Pivot Point S2	2278.08
Daily Pivot Point S3	2124.67
Daily Pivot Point R1	2601.67
Daily Pivot Point R2	2755.08
Daily Pivot Point R3	2840.17

Author

Flavio Tosti

Independent Analyst

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