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20 Feb 2020
S&P500 Price News: Index drops to five-day lows, challenges 3350 level
- The S&P500 is down sharply on an intraday basis.
- Sellers are pressuring the 3350 support level.
S&P500 daily chart
The S&P500 Index is trading in a bull trend above its main simple moving averages (SMAs) on the daily chart. The market is dropping to five-day lows while challenging the 3350 support. In the event, the market drops below the above-mentioned level the index is likely to weaken further towards the 3300 level. On the flip side, bulls would need to recapture the 3400 level.
Additional key levels