S&P 500 Price Analysis: US stocks on the back foot amidst worst US jobless claims in history

The S&P 500 remains under pressure below the 2515 resistance as the US jobless claims hit a new record high at 6.648 million painting a gloomy picture for the  |  02/04/2020 14:50
  • S&P 500 is under pressure below the 2515 level.
  • US jobless claims reach a new historic high at 6.648 million which could weigh heavily on the economy.
 

S&P 500 daily chart

 
The S&P 500 remains under pressure below the 2515 resistance as the US jobless claims hit a new record high at 6.648 million painting a gloomy picture for the economy. In this context, the index could decline further towards the 2400 and 2300 support levels in the medium term while resistance should emerge near 2515 and 2600 levels. 
 

Additional key levels 

 

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