S&P 500 Price May Retest Previous Low at $4813

Sellers are ruling S&P 500 market

S&P 500 Price Analysis – 22 April

Key Levels:

Resistance levels: $5194, $5259, $5345

Support levels: $5120, $5010, $4721

S&P 500 Long-term trend: Bearish

The daily chart of the S&P 500 Index shows a negative trend. For nearly two weeks, bears have commanded the market. Subtractions have been the primary driver of the indicator since February 19. Another attempt to attain the $5345 milestone was made on February 18; additional visitors are expected if the request is granted. The suppliers were able to temporarily stop further price increases by maintaining the fixed price at the first indicated location, and the performance double-top bearish reversal map pattern held up at $5345. The S&P 500 falls from its $5345 position to the $5010 barrier level. The price is currently falling to $4721.

If the $5120 position holds, the S&P 500 can move higher and reach the resistance levels of $5194, $5259, and $5345. If the price breaks through the $5120 support level, it might challenge the $5010 and $4721 possibilities. The QQE MOD histogram and the Hull Suite crypto signals both point to a sale. It may all go according to plan.

S&P 500 Medium-term Trend: Bearish

The S&P 500’s 4-hour graphic displays a downward trend. The bears’ strong resistance has prevented the price from breaking above the $5595 hedge position for the first week. The bears have remained stable at their designated positions as the price has been declining. The price is currently falling toward $5120 due to an engulfing candle pattern. The price of the S&P 500 has been falling since it peaked at $5875.

The S&P 500 is less expensive than the Hull Suite guidance. A strong selling signal is indicated when the QQE MOD index falls below zero.