S&P500 Technical Analysis: 2,650.00 bear target achieved and exceeded as sellers sink the market to the 2,620.00 level

Flavio Tosti Independent Analyst

S&P500 daily chart

The S&P500 is in a bear trend below the 200-day simple moving average (SMA).
As forecast, the S&P500 hit the 2650.00 bear target.
The S&P500 is now trading at daily lows just above the 2,600.00 figure. The market should hold in the short-term and 2,686.00 should be the next bull target. Alternatively, a break below 2,600.00 would open the doors to further losses.

Additional key levels

SP 500

Overview:
    Today Last Price: 2624
    Today Daily change: -9.1e+3 pips
    Today Daily change %: -3.36%
    Today Daily Open: 2715.25
Trends:
    Previous Daily SMA20: 2710.01
    Previous Daily SMA50: 2749.08
    Previous Daily SMA100: 2814.58
    Previous Daily SMA200: 2765.7
Levels:
    Previous Daily High: 2721
    Previous Daily Low: 2707.5
    Previous Weekly High: 2764
    Previous Weekly Low: 2629.8
    Previous Monthly High: 2818.75
    Previous Monthly Low: 2626
    Previous Daily Fibonacci 38.2%: 2715.84
    Previous Daily Fibonacci 61.8%: 2712.66
    Previous Daily Pivot Point S1: 2708.17
    Previous Daily Pivot Point S2: 2701.08
    Previous Daily Pivot Point S3: 2694.67
    Previous Daily Pivot Point R1: 2721.67
    Previous Daily Pivot Point R2: 2728.08
    Previous Daily Pivot Point R3: 2735.17

Author

Flavio Tosti

Independent Analyst

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