- The S&P500 has almost erased the last three months of trading in about two weeks.
- The S&P500 continued the sell-off started on Wednesday although some buying interest was there above 2,700.00 figure. The RSI, MACD and Stochastic indicators are in negative territories suggesting further weakness.
- There is no sign of a bottom and the bear momentum remains for the moment intact with supports seen near 2,718.75 (April 17 high) and 2,710.00 (October 11 low).
S&P500 daily chart
Spot rate: 2,744.50
Relative change: -0.74%
Main trend: Bullish
Short-term trend: Bearish
Resistance 1: 2,763.50 July 11 low
Resistance 2: 2,800.00 figure
Resistance 3: 2,834.25 current October 10 low
Resistance 4: 2,853.00 August 9 low
Resistance 5: 2,863.75 August 7 high
Resistance 6: 2,877.00 January swing high
Support 1: 2,718.75 April 17 high
Support 2: 2,710.00 October 11 low
Support 3: 2,700.00 figure
Support 4: 2647.25 March 2 low
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