S&P500 Technical Analysis: US Stocks down almost 2% as the bullish inverse Head-and-Shoulders is at risk


S&P500 daily chart

  • The S&P500 is trading in a bear trend below the 200-day simple moving average. 
  • The S&P500 printed a bullish inverse head-and-shoulders pattern, however, if bears break below the right shoulder, it can become a warning sign for bulls. 
  • Technical indicators are in bearish territories suggesting that the path of least resistance is to the downside. 

Additional key levels at a glance:

SP 500

Overview:
    Last Price: 2692.5
    Daily change: -4.9e+3 pips
    Daily change: -1.80%
    Daily Open: 2741.75
Trends:
    Daily SMA20: 2728.32
    Daily SMA50: 2807.14
    Daily SMA100: 2829.87
    Daily SMA200: 2768.45
Levels:
    Daily High: 2741.75
    Daily Low: 2741.75
    Weekly High: 2791.75
    Weekly Low: 2670.75
    Monthly High: 2939.5
    Monthly Low: 2604.5
    Daily Fibonacci 38.2%: 2741.75
    Daily Fibonacci 61.8%: 2741.75
    Daily Pivot Point S1: 2741.75
    Daily Pivot Point S2: 2741.75
    Daily Pivot Point S3: 2741.75
    Daily Pivot Point R1: 2741.75
    Daily Pivot Point R2: 2741.75
    Daily Pivot Point R3: 2741.75

 

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