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S&P500 Technical Analysis: US Stocks undecided where to go next as 2,500.00 resistance caps advances

S&P500 daily chart

  • The S&P500 is having a deep pullback below the 50, 100 and 200-period simple moving averages (SMAs). 

S&P500 4-hour chart

  • Bulls are having a small Christmas rally since December 24, 2018 but there is little bullish follow-through.
  • The market needs to reclaim the 50 SMA for further gains or else big bears might come back. 

S&P500 30-minute chart

  • The S&P500 is in a tight range.
  • Bulls will need to overcome the 2,500.00 and 2,540.00 resistances in order to extend gains towards 2,570.00 resistance.
  • On the flip side, bears would need a break below the 2,450.00 level to extend losses.

Additional key levels

SP 500

Overview:
    Today Last Price: 2478.25
    Today Daily change: -1.2e+3 pips
    Today Daily change %: -0.472%
    Today Daily Open: 2490
Trends:
    Previous Daily SMA20: 2552.85
    Previous Daily SMA50: 2651.52
    Previous Daily SMA100: 2759.7
    Previous Daily SMA200: 2757.42
Levels:
    Previous Daily High: 2520.25
    Previous Daily Low: 2453
    Previous Weekly High: 2521.75
    Previous Weekly Low: 2340.25
    Previous Monthly High: 2813.5
    Previous Monthly Low: 2340.25
    Previous Daily Fibonacci 38.2%: 2494.56
    Previous Daily Fibonacci 61.8%: 2478.69
    Previous Daily Pivot Point S1: 2455.25
    Previous Daily Pivot Point S2: 2420.5
    Previous Daily Pivot Point S3: 2388
    Previous Daily Pivot Point R1: 2522.5
    Previous Daily Pivot Point R2: 2555
    Previous Daily Pivot Point R3: 2589.75

 

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