S&P500 technical analysis: Index loses steam and ends the day at the 2,900.00 mark in futures trading

The S&P500 is starting the week on the back foot, declining below last week’s high.
The level to beat for bears are at the 2,890 and 2,870 levels.

Flavio Tosti Independent Analyst

S&P500 daily chart

The S&P 500 Index (ES futures) ended the day just at the 2,900 handle below the 50/100 day simple moving averages (DSMAs) as the market is choppy between the 2,800 and 2,950 levels. The spot market was closed in observance of the Labour Day in the US.

S&P500 4-hour chart

The market is challenging the 2,900 level and the 50/100 SMAs. Bears want a break below 2,890 support to drive the index towards 2,870 and 2,850 support.

S&P500 4-hour chart

The index is testing the 200 SMA, suggesting a correction down in the near term. Immediate resistances are seen at 2,910 and 2,930 levels.

Additional key levels

SP 500

Overview
Today last price	2900
Today Daily Change	-23.25
Today Daily Change %	-0.80
Today daily open	2923.25

Trends
Daily SMA20	2892.04
Daily SMA50	2945.44
Daily SMA100	2911.26
Daily SMA200	2810.44

Levels
Previous Daily High	2946.5
Previous Daily Low	2913
Previous Weekly High	2946.5
Previous Weekly Low	2821.75
Previous Monthly High	3013.5
Previous Monthly Low	2790.5
Daily Fibonacci 38.2%	2925.8
Daily Fibonacci 61.8%	2933.7
Daily Pivot Point S1	2908.67
Daily Pivot Point S2	2894.08
Daily Pivot Point S3	2875.17
Daily Pivot Point R1	2942.17
Daily Pivot Point R2	2961.08
Daily Pivot Point R3	2975.67

Author

Flavio Tosti

Independent Analyst

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