S&P500 technical analysis: US stocks downfall intensify as the trade war is taking its toll

• US stocks are on the way down as the trade war intensify.
• The index broke below the 200-period simple moving average (SMA).

S&P500 daily chart
 
The S&P500 Index is trading in a correction down below the 200-period simple moving average (SMA).

S&P500 4-hour chart

The index is under selling pressure below its main SMAs. The S&P500 broke below the 2,760.00 level. The market is weak and 2,720.00 and the 2,700.00 handle can become bear targets. Resistance is at the 2,770.00 and 2,800.00 levels.

Additional key levels