- US stocks are on the way down as the trade war intensify.
- The index broke below the 200-period simple moving average (SMA).
S&P500 daily chart
The S&P500 Index is trading in a correction down below the 200-period simple moving average (SMA).
S&P500 4-hour chart
The index is under selling pressure below its main SMAs. The S&P500 broke below the 2,760.00 level. The market is weak and 2,720.00 and the 2,700.00 handle can become bear targets. Resistance is at the 2,770.00 and 2,800.00 levels.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD approaches 1.1000 as DXY drops below 103.00

EUR/USD rose to 1.0988, reaching the highest intraday level since August 11. The pair trades near 1.1000, supported by broad-based US Dollar weakness. The DXY dropped below 103.00 to the lowest in three months.
GBP/USD breaks above 1.2650 to the highest level in almost three months

GBP/USD rose further during the American session, breaking above 1.2650. to the strongest level since early September. A weaker US Dollar continues to support the upside in the pair. Lower Treasury yields weigh on the Greenback.
Gold surges to six-month high amid soft USD ahead of Fed speeches

Gold price climbs to a six-month high, more than 0.50% on Tuesday, early in the North American session, as the Greenback remains on the defensive, undermined by falling US Treasury bond yields.
Dogecoin price might recover losses if volume picks up

Dogecoin has noted a massive rise in wallet addresses with a non-zero balance. This increase is typical of rising demand among market participants for DOGE. On-chain metrics paint a bullish outlook for Dogecoin.
Eurozone bank lending continues to weaken as economy adjusts to higher rates

Loans to businesses are now 0.3% lower than in October last year, the first annual decline since July 2015. This confirms that monetary tightening is having a clear effect on the economy. A divide between countries is also opening up.