S&P500 Technical Analysis: Bears erase daily gains

S&P500 daily chart

• The S&P500 index is trading in a bull trend above its main simple moving averages (SMAs).
• The index is approaching a key level at 2,940.00.

S&P500 4-hour chart

• The S&P500 is trading above its main SMAs suggesting bullish momentum the medium-term.

S&P500 60-minute chart

• The S&P500 is trading above its main SMAs as the bull trend is intact for the time being.
• Bears erased the daily gains driving the market down to the 2910.00 support and the 50 SMA. 
• Looking down, investors can expect support at 2,900.00; 2,890.00 and 2,880.00 level.

Additional key levels