{"id":23318,"date":"2026-03-04T11:43:23","date_gmt":"2026-03-04T11:43:23","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=23318"},"modified":"2026-03-04T11:44:39","modified_gmt":"2026-03-04T11:44:39","slug":"sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/sv\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/","title":{"rendered":"S&P 500 Taps Bottom of Range at $6,792 and 4H-EMA 200"},"content":{"rendered":"\n

The S&P 500 tanked by 2.76% yesterday, but is now making a valiant effort at recovery. Upon closer inspection, we can see the asset is still within a tight range between $6,792 to $6,985<\/strong>.<\/p>\n\n\n\n

There is now a very clear market gap between $6,812 to $6,864; but that may not be significant at all because S&P 500 blatantly has disrespected those gaps for the entirety of 2026.<\/p>\n\n\n\n

What this tells us is that we are in a macro driven environment; earnings, geopolitics, and interest rate decisions are what drives this market concurrently. The choppy sideways move also aligns with the idea of sector rotation<\/strong>, where now – defense and energy stocks are beginning to shine rather than AI and Chips.<\/p>\n\n\n\n

So what does this mean for trading today?<\/p>\n\n\n\n

Going on the 4H-timeframe, <\/strong>we can see that S&P clearly resisted closing below the range:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

That’s a good sign. But several technical factors to be considered are emerging:<\/strong><\/p>\n\n\n\n

    \n
  1. Across RSI, Stoch RSI<\/a>, and MFI momentum indicators, there is still more downside to be had.<\/li>\n\n\n\n
  2. RSI<\/a> has broken a trendline support, and that doesn’t look good for major bullish upside.<\/li>\n\n\n\n
  3. MFI<\/a> remains elevated and is painting a potential double top signal (Bearish).<\/li>\n\n\n\n
  4. Stochastics RSI still has not printed oversold and a crossover, but is getting close.<\/li>\n<\/ol>\n\n\n\n

    These signals point to a potential lower drop<\/strong> to come, but perhaps not by much.<\/strong><\/p>\n\n\n\n

    We’re getting close to an inflection point. Should the S&P 500 hold the range, we can continue to expect rangebound behaviour.<\/p>\n\n\n\n

    Fib levels<\/a> mark a potential reversal point (to continue the decline) at $6,860, where traders should keep an eye on.<\/p>\n\n\n\n

    The Bigger Picture: S&P 500 is Still in Uptrend<\/h2>\n\n\n\n

    Despite all the market noise, S&P 500 is still in an uptrend. Zooming out a little, we can see if we use the Bollinger Bands<\/a> to capture 1 standard deviation from the 4H-EMA 200, that it serves as a beautiful trend filter.<\/p>\n\n\n\n

    Notice how in August 2024, despite the steep drop, the SPX still held within the band and continued its uptrend. Currently, the band’s lows sits at $6,693, approximately $6,700.<\/strong><\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    However, we are beginning to see cracks in the rally. The band is beginning to shrink, <\/strong>which is what it did back in early 2025 before cracking below the bands; creating a drop of over 20%.<\/p>\n\n\n\n

    Now, the price has just retested the 4H-EMA 200<\/a> for the second time in the rally (first time in Nov 2025), so we’ll have to see if this support fails. If that happens, look towards $6,700 – and if that fails, the probabilities of a prolonged downtrend on S&P 500 increases.<\/p>\n\n\n\n

    \n\n\n\n

    The bottom line is<\/strong>:<\/p>\n\n\n\n

    We are still in an uptrend – but momentum indicators suggest lower prices aren’t out of the picture. The play now is to watch these ”breach” levels closely to assess S&P 500’s health.<\/p>\n\n\n\n

    <\/p>\n","protected":false},"excerpt":{"rendered":"

    S&P 500 is currently testing a critical EMA, and although the uptrend is still intact, the bullish status is currently under threat.<\/p>\n","protected":false},"author":159,"featured_media":23331,"parent":0,"comment_status":"closed","ping_status":"closed","template":"","market_insights_categories":[17],"class_list":["post-23318","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-opening-bell"],"acf":[],"yoast_head":"\nS&P 500 Taps Bottom of Range at $6,792 and 4H-EMA 200 - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"S&P 500 is currently testing a critical EMA, and although the uptrend is still intact, the bullish status is currently under threat.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/sv\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/\" \/>\n<meta property=\"og:locale\" content=\"sv_SE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&P 500 Taps Bottom of Range at $6,792 and 4H-EMA 200 - Alchemy Markets\" \/>\n<meta property=\"og:description\" content=\"S&P 500 is currently testing a critical EMA, and although the uptrend is still intact, the bullish status is currently under threat.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/\" \/>\n<meta property=\"og:site_name\" content=\"Alchemy Markets\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-04T11:44:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/SPX_2026-03-04_19-44-22.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2132\" \/>\n\t<meta property=\"og:image:height\" content=\"1408\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Ber\u00e4knad l\u00e4stid\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minuter\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"S&P 500 Taps Bottom of Range at $6,792 and 4H-EMA 200 - Alchemy Markets","description":"S&P 500 is currently testing a critical EMA, and although the uptrend is still intact, the bullish status is currently under threat.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/alchemymarkets.com\/sv\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/","og_locale":"sv_SE","og_type":"article","og_title":"S&P 500 Taps Bottom of Range at $6,792 and 4H-EMA 200 - Alchemy Markets","og_description":"S&P 500 is currently testing a critical EMA, and although the uptrend is still intact, the bullish status is currently under threat.","og_url":"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/","og_site_name":"Alchemy Markets","article_modified_time":"2026-03-04T11:44:39+00:00","og_image":[{"width":2132,"height":1408,"url":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/SPX_2026-03-04_19-44-22.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Ber\u00e4knad l\u00e4stid":"3 minuter"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/","url":"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/","name":"S&P 500 Taps Bottom of Range at $6,792 and 4H-EMA 200 - Alchemy Markets","isPartOf":{"@id":"https:\/\/alchemymarkets.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/#primaryimage"},"image":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/#primaryimage"},"thumbnailUrl":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/SPX_2026-03-04_19-44-22.png","datePublished":"2026-03-04T11:43:23+00:00","dateModified":"2026-03-04T11:44:39+00:00","description":"S&P 500 is currently testing a critical EMA, and although the uptrend is still intact, the bullish status is currently under threat.","breadcrumb":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/#breadcrumb"},"inLanguage":"sv-SE","potentialAction":[{"@type":"ReadAction","target":["https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/"]}]},{"@type":"ImageObject","inLanguage":"sv-SE","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/#primaryimage","url":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/SPX_2026-03-04_19-44-22.png","contentUrl":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/03\/SPX_2026-03-04_19-44-22.png","width":2132,"height":1408},{"@type":"BreadcrumbList","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/sp-500-taps-bottom-of-range-at-6792-and-4h-ema-200\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/alchemymarkets.com\/"},{"@type":"ListItem","position":2,"name":"Market Insights","item":"https:\/\/alchemymarkets.com\/education\/market-insights\/"},{"@type":"ListItem","position":3,"name":"S&P 500 Taps Bottom of Range at $6,792 and 4H-EMA 200"}]},{"@type":"WebSite","@id":"https:\/\/alchemymarkets.com\/#website","url":"https:\/\/alchemymarkets.com\/","name":"Alchemy Markets","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/alchemymarkets.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"sv-SE"}]}},"_links":{"self":[{"href":"https:\/\/alchemymarkets.com\/sv\/wp-json\/wp\/v2\/market_insights\/23318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alchemymarkets.com\/sv\/wp-json\/wp\/v2\/market_insights"}],"about":[{"href":"https:\/\/alchemymarkets.com\/sv\/wp-json\/wp\/v2\/types\/market_insights"}],"author":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/sv\/wp-json\/wp\/v2\/users\/159"}],"replies":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/sv\/wp-json\/wp\/v2\/comments?post=23318"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/sv\/wp-json\/wp\/v2\/media\/23331"}],"wp:attachment":[{"href":"https:\/\/alchemymarkets.com\/sv\/wp-json\/wp\/v2\/media?parent=23318"}],"wp:term":[{"taxonomy":"market_insights_categories","embeddable":true,"href":"https:\/\/alchemymarkets.com\/sv\/wp-json\/wp\/v2\/market_insights_categories?post=23318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}