S&P500 Price Analysis: US stock index grinds down further, hits lowest since February 2017

S&P500 is resuming down after a few days of consolidation.
S&P500 is trading in 37-month lows as coronavirus crisis is taking its toll.
The level to beat for bears is the 2300 support.

Flavio Tosti Independent Analyst

S&P500 daily chart

The market is resuming to the downside after a few days of consolidation. The S&P500 is now in a bear market as it dropped more than 20% from the recent record high while trading in 37-month lows. The drop below the 2300 level can lead to more declines towards the 2200 and 2000 price levels in the medium term. The 2400, 2500 and 2600 price levels should act as resistance.

Additional key levels

SP 500

Overview
Today last price	2280.5
Today Daily Change	-89.75
Today Daily Change %	-3.79
Today daily open	2370.25

Trends
Daily SMA20	2851.69
Daily SMA50	3133
Daily SMA100	3144.05
Daily SMA200	3050.71

Levels
Previous Daily High	2469.5
Previous Daily Low	2287.5
Previous Weekly High	2886.25
Previous Weekly Low	2396
Previous Monthly High	3395.25
Previous Monthly Low	2854.5
Daily Fibonacci 38.2%	2357.02
Daily Fibonacci 61.8%	2399.98
Daily Pivot Point S1	2282
Daily Pivot Point S2	2193.75
Daily Pivot Point S3	2100
Daily Pivot Point R1	2464
Daily Pivot Point R2	2557.75
Daily Pivot Point R3	2646

Author

Flavio Tosti

Independent Analyst

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