S&P500 (a 4-hour chart)
Wall Street opened lower on Thursday due to negative Manufacturing PMI and negative crude oil dynamics.
The technical picture presents a bearish tone. The price decreased from the weekly highs at 2180. S&P500 broke downwards the 200-EMA in the 4 hours chart. The 50-EMA crossed the 100-EMA in the mentioned timeframe. The moving averages are neutral. The resistance is seen at 2165, the support is at 2150.
MACD decreased which indicates the buyers’ positions weakening. RSI is moving towards the oversold area.
Sellers can take control over the market if the price consolidates below 2165. Otherwise, buyers will return the instrument upwards.