S&P500 technical analysis: US stocks drop to 5-day lows sub-2,940.00


  • The S&P500 is pulling back down after hitting a new all-time time.
  • The market can continue to drop towards 2,880.00 and 2,960.00 support.  

S&P500 daily chart

Last week, the S&P500 found resistance below 2,965.00 new all-time high. The market is retracing and trading at 5-day lows.

S&P500 4-hour chart

The stock index is trading below its 50 SMA suggesting a correction down. The S&P500 is about to test the 2,910.00 support. If broken to the downside, the bears can reach 2,880.00 and 2,840.00 on the way down. Resistance is at the 2,940.00 and 2,960.00 levels.


Additional key levels

SP 500

Overview
Today last price 2912.25
Today Daily Change -7.25
Today Daily Change % -0.25
Today daily open 2919.5
 
Trends
Daily SMA20 2868.36
Daily SMA50 2878.35
Daily SMA100 2849.36
Daily SMA200 2763.6
Levels
Previous Daily High 2954.5
Previous Daily Low 2917
Previous Weekly High 2965
Previous Weekly Low 2885
Previous Monthly High 2959.75
Previous Monthly Low 2749.75
Daily Fibonacci 38.2% 2931.32
Daily Fibonacci 61.8% 2940.18
Daily Pivot Point S1 2906.17
Daily Pivot Point S2 2892.83
Daily Pivot Point S3 2868.67
Daily Pivot Point R1 2943.67
Daily Pivot Point R2 2967.83
Daily Pivot Point R3 2981.17

 

 

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