S&P500 (a 4-hour chart)
Wall Street closed the week lower when decrease in Oil & Gas and Financials sectors weighed on the shares.
The index enjoyed a mixed session through trade on Friday. The price decreased during the Asian and European sessions and recovered during the North American hours. S&P500 traded around 2140 the whole day. The price is well below the moving averages in the 4 hours chart. The 50, 100 and 200 EMAs kept heading lower. The resistance is seen at 2150, the support is at 2140.
MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI is neutral
A downtrend will start as soon, as the S&P500 drops below the support level 2140. A break above 2150 would open the way to 2160.