S&P 500 Index is witnessing strong selling pressure from its previous top this indicates as long as it holds below from its resistance zone bears will be favored and further price fall can be seen in coming days, Index will favor bulls once it closes and holds above its trend line resistance in daily chart as shown in above graph. Visit our site for more free support and resistance technical charts.
On down side Index will find strong support around its 100 days moving average, as shown in above graph index bounced back from its 100 DMA from two times, bulls will find some hopes for bounce backat 100 DMA, but if index fails to hold and starts trading below its 100 DMA support zone then further selling pressure can be seen in coming days.
Even index major trend indicator "MACD" indicating that it has now turned negative this indicates further weakness can be seen in coming days in s&p 500.