S&P 500 Price: Bears Are Exerting More Pressure in S&P 500 Market

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


S&P 500 Price Analysis – February 22

In case the bears push the price to penetrate the support level of $4307, S&P 500 will decline to $4248 and $4169 levels. In case the bulls gain more pressure and defend $4307 support level, then, the resistance level of $4405 may be broken upside and it may increase to $4452 and $4524 resistance levels.

S&P 500 Market

Key levels:

Resistance levels: $4405, $4452, $4524

Support levels: $4307, $4248, $4169

 

S&P 500 Long-term trend: Bearish

S&P 500 is bearish on the weekly chart. The price action on weekly chart formed “M” chart pattern at $4768 resistance level; this is what triggered a bearish trend on the weekly chart.  The price continue to obey the chart pattern. Last two weeks, the price pulled back to retest $4524 level. After the pullback, the sellers increased their pressure and it broke down the support levels at $4472 and $4405. The price is currently targeting the support level of $4307.

S&P 500 is trading below the 9 periods EMA and the 21 periods EMA at distance which indicate strong bearish pressure in the S&P 500 market. The relative strength index period 14 is at 42 levels with the signal lines pointing down to indicate sell signal. In case the bears push the price to penetrate the support level of $4307, S&P 500 will decline to $4248 and $4169 levels. In case the bulls gain more pressure and defend $4307 support level, then, the resistance level of $4405 may be broken upside and it may increase to $4452 and $4524 resistance levels.

S&P 500 Medium-term Trend: Bearish

S&P 500 is on the bearish movement on the daily chart outlook. The double top chart pattern formed at the resistance level of $4524 indicate that bears are dominating market. The price declines, former support levels of $4452 and $4405 have turned to resistance levels. The price is heading towards $4307.

The price is trading below the 9 periods EMA and 21 periods EMA as an indication of bearish movement. The relative strength index period 14 is at 38 levels displaying sell signal.

You can purchase Lucky Block here.  Buy LBlock:

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *