S&P500 technical analysis: Wall Street in green as Google-Huwaei tensions de-escalate a notch

The U.S. Commerce Department announced a 90-day license for mobile phone companies and internet providers to work with Huawei to keep the existing networks online and to protect current users from security risks.
Google can send software updates to Huawei phones with Android operating system until August 19.

Flavio Tosti Independent Analyst

S&P500 daily chart

The S&P500 Index is trading in a bull trend above its 100 and 200-period simple moving averages (SMAs). The index is up as investors as the tensions between Google and Huawei are slightly easing.

S&P500 4-hour chart

The market is consolidating above the 50 SMA.

S&P500 30-minute chart

The level to beat for bulls is 2,870.00 resistance. If the market can break above it then 2,890.00 can be on the cards on Wednesday. On the flip side, if the buyers fail in their attempt, bears can step back in and drive the market towards 2,845.00 and potentially to the 2,835.00 level.

Additional key levels

SP 500

Overview
Today last price	2863.75
Today Daily Change	17.00
Today Daily Change %	0.60
Today daily open	2846.75

Trends
Daily SMA20	2893.31
Daily SMA50	2877.06
Daily SMA100	2799.74
Daily SMA200	2769.5

Levels
Previous Daily High	2874.75
Previous Daily Low	2831.75
Previous Weekly High	2892.25
Previous Weekly Low	2801.75
Previous Monthly High	2954.75
Previous Monthly Low	2850.25
Daily Fibonacci 38.2%	2848.18
Daily Fibonacci 61.8%	2858.32
Daily Pivot Point S1	2827.42
Daily Pivot Point S2	2808.08
Daily Pivot Point S3	2784.42
Daily Pivot Point R1	2870.42
Daily Pivot Point R2	2894.08
Daily Pivot Point R3	2913.42

Author

Flavio Tosti

Independent Analyst

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