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S&P 500 Technical Analysis and Trading Tips for July 15, 2022

Relevance up to 07:00 2022-07-16 UTC–4

As of this writing, the S&P 500 CFDs are trading near 3796.00, 11 pips above today’s open and 75 pips above yesterday’s local low of 3721.00.

A break through the resistance levels of 3832.00 (200 EMA on the 1-hour chart), 3860.00 (144 EMA on the weekly chart) may provoke further corrective growth towards the resistance level of 3950.00 (200 EMA on the 4-hour chart, 50 EMA on the daily chart).

But so far, despite the expected upward correction, in general, the negative dynamics of the S&P 500 remains below the key resistance level of 4202.00 (200 EMA on the daily chart, 50 EMA, and the upper line of the descending channel on the weekly chart).

Therefore, near the current mark and resistance levels of 3832.00, 3860.00, a rebound and a resumption of decline is possible. The breakdown of today’s low of 3778.00 and the local support level of 3740.00 will be a signal for the resumption of short positions, and the break of the key support level of 3645.00 (200 EMA on the weekly chart) will be for their increase.

In this case, the S&P 500 will move into the long-term bear market zone, and the key support levels 2705.00 (144 EMA on the monthly chart), 2428.00 (200 EMA on the monthly chart) will become the targets of the decline. A breakdown of the key long-term support level of 1200.00 may finally break the global bullish trend of the S&P 500 and, perhaps, the entire US stock market.

Support levels: 3740.00, 3645.00, 2705.00, 2428.00

Resistance levels: 3832.00, 3860.00, 3900.00, 3950.00, 4000.00, 4202.00

Trading Tips

Sell Stop 3776.00. Stop-Loss 3836.00. Take-profit 3740.00, 3700.0, 3645.00, 3600.00, 2705.00, 2428.00

Buy Stop 3836.00. Stop-Loss 3776.00. Take-profit 3860.00, 3900.00, 3950.00, 4000.00, 4202.00

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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