S&P500 Technical Analysis: US Stocks reject 2,800.00 as bears set their eyes on October low

The S&P500 remains under pressure following the recent strong pullback down.
The market rejected the 2,800.00 level and looks ready to test the current October low. The indicators remain weak and suggest further losses ahead.
Support can be seen near 2,718.75 April 17 high and 2,710.00 October 11 low.

Flavio Tosti Independent Analyst

S&P500 daily chart

Spot rate: 2,766.00
Relative change: -0.29%
High: 2,799.00
Low: 2,761.00

Main trend: Bullish
Short-term trend: Bearish

Resistance 1: 2,800.00 figure
Resistance 2: 2,834.25 current October 10 low
Resistance 3: 2,853.00 August 9 low
Resistance 4: 2,863.75 August 7 high
Resistance 5: 2,877.00 January swing high

Support 1: 2,763.50 July 11 low
Support 2: 2,718.75 April 17 high
Support 3: 2,710.00 October 11 low
Support 4: 2,700.00 figure
Support 5: 2,647.25 March 2 low

Author

Flavio Tosti

Independent Analyst

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