S&P500 technical analysis: US stocks break below 2,800.00 support and test the 200-SMA

• A new wave of fear fueled by the Sino-American trade conflict sends US stocks down.
• The S&P500 broke below 2,800.00 important support.

S&P500 daily chart
 
The S&P500 Index is having a correction down to the 200-period simple moving average (SMA). The bears finally broke below the 2,800.00 support.

S&P500 4-hour chart

The market is trading below its main SMAs suggesting a bearish bias. The S&P500 found some support just above the 2,760.00 level. If the risk-off mood persists bears could reach the 2,720.00 and 2,700.00 handle. Resistances are seen at 2,800.00 and 2,840.00 levels.

Additional key levels