S&P500 Technical Analysis: 2,734.00 target gets hit as Wall Street bears strike back

Flavio Tosti Independent Analyst

S&P500 daily chart

The S&P500 is trading in a bear trend below its 200-day simple moving average (SMA). As forecast, the 2,734.00 target has been achieved.
Bears have taken the market by surprise and downside targets are now seen near the 2,685.00 and 2,655.00 level.
The market is trading below its main SMAs as indicators are turning bearish.

Additional key levels

SP 500

Overview:
    Today Last Price: 2701.75
    Today Daily change: -8.8e+3 pips
    Today Daily change %: -3.15%
    Today Daily Open: 2789.5
Trends:
    Previous Daily SMA20: 2718.32
    Previous Daily SMA50: 2757.71
    Previous Daily SMA100: 2816.75
    Previous Daily SMA200: 2765.4
Levels:
    Previous Daily High: 2813.5
    Previous Daily Low: 2773.5
    Previous Weekly High: 2764
    Previous Weekly Low: 2629.8
    Previous Monthly High: 2818.75
    Previous Monthly Low: 2626
    Previous Daily Fibonacci 38.2%: 2788.78
    Previous Daily Fibonacci 61.8%: 2798.22
    Previous Daily Pivot Point S1: 2770.83
    Previous Daily Pivot Point S2: 2752.17
    Previous Daily Pivot Point S3: 2730.83
    Previous Daily Pivot Point R1: 2810.83
    Previous Daily Pivot Point R2: 2832.17
    Previous Daily Pivot Point R3: 2850.83

Author

Flavio Tosti

Independent Analyst

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