S&P500 technical analysis: US stocks correcting down below the 2,985.00 level

  • The S&P500 broke below the 2,985.00 support
  • The correction can continue towards 2,965 and the 2,950 level.

S&P500 daily chart

The S&P 500 Index is trading in a bull trend above its main daily simple moving averages (DSMAs). The market. Bulls objective is to keep the trend intact and break above the 3,010.00 level and potentially reach 3,045.00 on the way up.

sp500 daily chart
S&P500 4-hour chart

Bears broke below the 2,985.00 support and the 100 SMA. The correction down can extend towards 2,965.00 and 2,950.00.

sp500 4-hour chart
Additional key levels

SP 500

Today last price 2977
Today Daily Change -24.00
Today Daily Change % -0.80
Today daily open 3001
Daily SMA20 2974.18
Daily SMA50 2899.79
Daily SMA100 2883.52
Daily SMA200 2777.75
Previous Daily High 3003
Previous Daily Low 2971.75
Previous Weekly High 3014.25
Previous Weekly Low 2960.25
Previous Monthly High 2965
Previous Monthly Low 2729.25
Daily Fibonacci 38.2% 2991.06
Daily Fibonacci 61.8% 2983.69
Daily Pivot Point S1 2980.83
Daily Pivot Point S2 2960.67
Daily Pivot Point S3 2949.58
Daily Pivot Point R1 3012.08
Daily Pivot Point R2 3023.17
Daily Pivot Point R3 3043.33



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD in a phase of bearish consolidation around 1.0850, US NFP eyed

With the US dollar bulls taking a breather following the latest upsurge, EUR/USD is licking its wounds ahead of the European open. The spot trades close to the six-day lows reached Thursday at 1.0820, as it awaits the critical US data for the next direction.


GBP/USD: Weaker below 1.2400 ahead of UK PMI, US data

GBP/USD bears the burden of broad US dollar strength while waiting for fresh impulse. UK plans to issue coronavirus “immunity passports”. Final reading of the UK’s March PMIs, US jobs report and ISM Non-Manufacturing PMI will be in focus.


Forex Today: Coronavirus risks loom, USD bulls take a breather ahead of US Payrolls

The relentless rise in the coronavirus cases world-wide continues to keep the investors on the edge. The US dollar continued to enjoy the safe-haven flows, as the Asian equities turned negative alongside the US stock futures.

Read more

WTI consolidates recent gains amid fresh challenges to risk-tone

Even if US President Donald Trump reiterated his calls for oil production cuts, WTI remains under pressure around $23.75 amid the Asian session on Friday. The black gold fails to cheer the upbeat signals from the US leader amid risk reset.

Oil News

Gold snaps two-day recovery, stays above $1,600, as trade sentiment sours

Gold fails to extend the previous recovery gains amid fresh challenges to risk. Wuhan Chief cited coronavirus resurgence risk, Washington Governor extends lockdown. S&P keeps US rating/outlook intact, expects a recovery in 2021.

Gold News