- 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.
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
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD stays pressured near 1.1350 on USD rebound
EUR/USD trades in negative territory at around 1.1350 on Friday. Renewed US Dollar strength on growing optimism surrounding the US-China trade war de-escalation keeps the pair undermined. Trade talks and US data remain in focus.
GBP/USD consolidates losses near 1.3300 after UK Retail Sales data
GBP/USD remains under moderate selling pressure near 1.3300 despite the upbeat UK Retail Sales data for March. The pair feels the heat of the solid US Dollar rebound, aided by a Bloomberg report, which indicated China may suspend its 125% tariff on select US imports.
Gold drops below $3,300 as market mood improves
Gold turns south following Thursday's rebound and trades below $3,300 on Friday. The move down comes amid growing optimism about a de-escalation of the US-China trade conflict after US President Trump hinted at the beginning of negotiations.
Ethereum: Accumulation addresses grab 1.11 million ETH as bullish momentum rises
Ethereum saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
Five fundamentals for the week: Traders confront the trade war, important surveys, key Fed speech Premium
Will the US strike a trade deal with Japan? That would be positive progress. However, recent developments are not that positive, and there's only one certainty: headlines will dominate markets. Fresh US economic data is also of interest.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.