S&P500 Technical Analysis: Stocks retreating slightly after new all-time high of Thursday

The S&P500 is having a small pullback down after reaching a new all-time high this Thursday.
The trend remains strongly bullish with the 50, 100 and 200-day simple moving averages rising and widening while the RSI, MACD and Stochastics are in positive territories.
Small pullbacks can find support near 2,917.00 (August 29 high) and 2,900.00 figure.

Flavio Tosti Independent Analyst

S&P500 daily chart

Spot rate: 2,925.00
Relative change: -0.28%
High: 2,939.50
Low: 2,924.75

Main trend: Bullish

Resistance 1: 2,938.00, 138.2% Fibonnacci extension (Aug-Sept, high/low)
Resistance 2: 2,950.00, 161.8% Fibonnacci extension (Aug-Sept, high/low)
Resistance 3: 3,000.00 round figure

Support 1: 2,917.00 August 29 high
Support 2: 2,900.00 figure
Support 3: 2,877.00 January swing high
Support 4: 2,863.75 August 7 high
Support 5: 2,853.00 August 9 low

Author

Flavio Tosti

Independent Analyst

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