S&P 500 at risk of further losses
SPY•The S&P 500 is near its 200-day moving average at 7,331 after a series of lower highs and lows since its October peak. A close below that level would put support between 7,237 and 7,313 in focus; a rebound above 7,578 could target moving averages near 7,620 and 7,673.
1. Key support levels
The S&P 500’s decline last week brought it near its rising 200-day moving average, currently at 7,331. The index has not closed below that level since April 8. A break below it would put a support zone between 7,237 and 7,313 in focus, including June and July lows, a trendline from April 2025 and the 38.2% Fibonacci retracement of the March-to-October 2026 rally.
2. Further downside and rebound
If 7,237 gives way, the next significant support is between 7,080 and 6,900, including the 50% and 61.8% retracements, the January high at 7,002.29 and the 7,000 psychological level. The index is down around 4% from its peak. A rebound above Monday’s high near 7,578 would put the 100-day and 50-day moving averages, near 7,620 and 7,673, in view; a move above 7,715.57 could refocus attention on the record intraday high of 7,844.62.
