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S&P500 Technical Analysis: US Stocks trading at daily highs ahead of Fed’s Powell speech

S&P500 Daily chart

  • The S&P500 is having a deep pullback below the 200-period simple moving average (SMA).
  • Fed’s Powell speech today at 17.45 GMT can lead to high volatility.

S&P500 4-hour chart

  • Bulls reclaimed the 50 and 100 SMAs but need to overcome the 200 SMA for further advances.

S&P500 30-minute chart

  • The S&P500 is trading above its main SMAs suggesting bullish momentum. 
  • A break of the 2,600.00 resistance can lead to a run to the 2,650.00 level. 

Additional key levels

SP 500

Overview:
    Today Last Price: 2587.25
    Today Daily change: 6.3e+2 pips
    Today Daily change %: 0.242%
    Today Daily Open: 2581
Trends:
    Previous Daily SMA20: 2517.7
    Previous Daily SMA50: 2637.53
    Previous Daily SMA100: 2742.47
    Previous Daily SMA200: 2753.54
Levels:
    Previous Daily High: 2595.5
    Previous Daily Low: 2568.5
    Previous Weekly High: 2539
    Previous Weekly Low: 2441
    Previous Monthly High: 2813.5
    Previous Monthly Low: 2340.25
    Previous Daily Fibonacci 38.2%: 2585.19
    Previous Daily Fibonacci 61.8%: 2578.81
    Previous Daily Pivot Point S1: 2567.83
    Previous Daily Pivot Point S2: 2554.67
    Previous Daily Pivot Point S3: 2540.83
    Previous Daily Pivot Point R1: 2594.83
    Previous Daily Pivot Point R2: 2608.67
    Previous Daily Pivot Point R3: 2621.83

 

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