Bargain hunters step in as S&P 500 bulls look to defend the trend
SPY•US equity futures rose Monday after the S&P 500’s four-week slide, with E-mini S&P 500 futures up more than 0.9%. The benchmark ended Friday 5.7% below its October 6 record close and near its rising 200-day moving average.
1. Futures rebound
Bargain hunters stepped in Monday after last week’s selloff, lifting E-mini S&P 500 futures by more than 60 points, or 0.9%. The Dow was up more than 1% in early trading, while the Euro STOXX 600 gained about 1.1%.
2. Support levels in focus
The S&P 500 has fallen for four straight weeks and posted its biggest weekly loss since April 2025. Friday’s close at 7,376.86 left it 5.7% below its October 6 record close; the index’s 200-day moving average was near 7,325. A support zone was identified between roughly 7,237 and 7,313, while initial resistance was seen at 7,484 to 7,528.
3. Broader declines
The Nasdaq Composite ended Friday 10.9% below its early October record close, and the Russell 2000 was 10.2% below its mid-August peak. Several S&P 500 sectors were in correction territory, and real estate and communication services were each more than 20% below their record highs.
