S&P500 Technical Analysis: Triple top can see the bears drive the market down to the 2,650.00 level

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 technical indicators are turning bearish.
The market created a triple top with 2,820.00 blocking bullish advances.
As the path of least resistance is down, targets are now seen near the 2,685.00 and 2,650.00 level.

Additional key levels

SP 500

Overview:
    Today Last Price: 2717.25
    Today Daily change: 1.6e+3 pips
    Today Daily change %: 0.574%
    Today Daily Open: 2701.75
Trends:
    Previous Daily SMA20: 2713.16
    Previous Daily SMA50: 2753.27
    Previous Daily SMA100: 2815.59
    Previous Daily SMA200: 2765.33
Levels:
    Previous Daily High: 2787
    Previous Daily Low: 2696.25
    Previous Weekly High: 2764
    Previous Weekly Low: 2629.8
    Previous Monthly High: 2818.75
    Previous Monthly Low: 2626
    Previous Daily Fibonacci 38.2%: 2730.92
    Previous Daily Fibonacci 61.8%: 2752.33
    Previous Daily Pivot Point S1: 2669.67
    Previous Daily Pivot Point S2: 2637.58
    Previous Daily Pivot Point S3: 2578.92
    Previous Daily Pivot Point R1: 2760.42
    Previous Daily Pivot Point R2: 2819.08
    Previous Daily Pivot Point R3: 2851.17

Author

Flavio Tosti

Independent Analyst

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