S&P500 Technical Analysis: US Stocks remain fragile near 2,700.00 figure

The S&P500 is having a deep pullback below the 200-day simple moving average (SMA).
The S&P500 closed above the 2,700.00 level but the day is closing far away from its high suggesting bullish weakness and potential bearish resumption in the second half of the week.
Targets to the downside are seen near 2,647.25 (March 2 low) and 2,600.00 figure.

Flavio Tosti Independent Analyst

S&P500 daily chart

Main trend: Bullish
Short-term trend: Bearish pullback below 200-day SMA

Resistance 1: 2,718.75 April 17 high
Resistance 2: 2,763.50 July 11 low
Resistance 3: 2,800.00 figure
Resistance 4: 2,834.25 current October 10 low

Support 1: 2,700.00 figure
Support 2: 2,647.25 March 2 low
Support 3: 2,600.00 figure
Support 4: 2,530.75, 2018 low

Additional key levels at a glance:

SP 500

Overview:
    Last Price: 2706.5
    Daily change: 1.9e+3 pips
    Daily change: 0.688%
    Daily Open: 2688
Trends:
    Daily SMA20: 2768.15
    Daily SMA50: 2851.16
    Daily SMA100: 2828.57
    Daily SMA200: 2766.76
Levels:
    Daily High: 2692
    Daily Low: 2634
    Weekly High: 2780.5
    Weekly Low: 2627.75
    Monthly High: 2939.5
    Monthly Low: 2864.25
    Daily Fibonacci 38.2%: 2669.84
    Daily Fibonacci 61.8%: 2656.16
    Daily Pivot Point S1: 2650.67
    Daily Pivot Point S2: 2613.33
    Daily Pivot Point S3: 2592.67
    Daily Pivot Point R1: 2708.67
    Daily Pivot Point R2: 2729.33
    Daily Pivot Point R3: 2766.67

Author

Flavio Tosti

Independent Analyst

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