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S&P500 Technical Analysis: Is the US Stock crash over?

  • The S&P500 is having a strong pullback down below its 200-day simple moving average (SMA) on the daily chart. 
  • The S&P500 rebounded from the 2,600.00 support. Bulls are now trading above the key 2,700.00 figure suggesting that bulls have a fair chance to stabilize the market from now on. The next targets to the upside are seen near 2,763.50 (July 11 low) close to the 200 SMA and then 2,800.00 figure. As technical indicators are still in recovery mode, sharp pullbacks down to 2,647.25 (March 2 low) and 2600.00 figure can be expected. 
  • A break below 2,600.00 on a daily closing basis would likely invalidate the potential bullish bias. 

S&P500 daily chart

Main trend:               Bullish
Short-term trend:      Bearish pullback below 200-day SMA
 
Resistance 1:           2,763.50 July 11 low
Resistance 2:           2,800.00 figure
Resistance 3:           2,834.25 current October 10 low
 
Support 1:                2,718.75 April 17 high
Support 2:                2,700.00 figure
Support 3:                2,647.25 March 2 low
Support 4:                2,600.00 figure
Support 5:                2,530.75, 2018 low

 

Additional key levels at a glance:

SP 500

Overview:
    Last Price: 2720.25
    Daily change: 3.2e+3 pips
    Daily change: 1.20%
    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


 

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