S&P500 Technical Analysis: US Stocks still fragile in the aftermath of last week crash

The S&P500 crashed last Wednesday and drove prices below the 200-day simple moving average.
The S&P500 is showing no sign of recovery suggesting that further losses can be on the cards. The RSI, MACD and Stochastic indicators are bearishly configured.
Supports to the downside can be expected near 2,718.75 (April 17 high), 2,700.00 figure and 2,647.25 (March 2 low) but nothing shows that they should hold.

Flavio Tosti Independent Analyst

S&P500 daily chart

Spot rate: 2,745.75
Relative change: -0.86%
High: 2,775.25
Low: 2,743.75

Main trend: Bullish
Short-term trend: Bearish

Resistance 1: 2,763.50 July 11 low
Resistance 2: 2,800.00 figure
Resistance 3: 2,834.25 current October 10 low
Resistance 4: 2,853.00 August 9 low
Resistance 5: 2,863.75 August 7 high
Resistance 6: 2,877.00 January swing high

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

Author

Flavio Tosti

Independent Analyst

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