S&P500 Technical Analysis: Inverse Head-and-Shoulders pattern can send US Stocks to the 2,820.00 level


S&P500 daily chart

  • The S&P500 printed an inverse head-and-shoulders pattern, which can potentially send the index up in the coming days and weeks. 

S&P500 4-hour chart

  • The S&P500 found strong support at the 2,680.00 level as the bulls reclaimed the 100-period simple moving average (SMA). 
  • Technical indicators are in positive territories suggesting continued bullish momentum. 
  • The bull target is at 2,820.00 swing high. A bear breakout below 2,680.00 would invalidate the bullish momentum.

S&P500 30-minute chart

  • The market is almost in full bull mode on the 30-minute chart. 
  • The S&P500 broke above the 50, 100 and 200 SMA while technical indicators are in positive territories. 

 

Additional key levels at a glance:

SP 500

Overview:
    Last Price: 2741.75
    Daily change: 8.5e+2 pips
    Daily change: 0.311%
    Daily Open: 2733.25
Trends:
    Daily SMA20: 2729.16
    Daily SMA50: 2813.38
    Daily SMA100: 2830.72
    Daily SMA200: 2768.26
Levels:
    Daily High: 2736
    Daily Low: 2670.75
    Weekly High: 2818.75
    Weekly Low: 2713.5
    Monthly High: 2939.5
    Monthly Low: 2604.5
    Daily Fibonacci 38.2%: 2711.07
    Daily Fibonacci 61.8%: 2695.68
    Daily Pivot Point S1: 2690.67
    Daily Pivot Point S2: 2648.08
    Daily Pivot Point S3: 2625.42
    Daily Pivot Point R1: 2755.92
    Daily Pivot Point R2: 2778.58
    Daily Pivot Point R3: 2821.17

 

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