S&P500 technical analysis: US stocks correcting down below the 2,985.00 level

• The S&P500 broke below the 2,985.00 support
• The correction can continue towards 2,965 and the 2,950 level.

 
S&P500 daily chart

The S&P 500 Index is trading in a bull trend above its main daily simple moving averages (DSMAs). The market. Bulls objective is to keep the trend intact and break above the 3,010.00 level and potentially reach 3,045.00 on the way up.

S&P500 4-hour chart

Bears broke below the 2,985.00 support and the 100 SMA. The correction down can extend towards 2,965.00 and 2,950.00.

Additional key levels