TS Lombard modeled an AI investment reversal, warning the S&P 500 could fall 30 percent if cloud capex is cut.
S&P 500 Technical Analysis: Support, Resistance & Pivot Today (Oct 28, 2026)
Technical score
Short-termdays to 2 weeks
Bearishweak
Medium-termweeks to months
Bullishmoderate
Long-termmonths and beyond
Bullishmoderate
What drives the technical score
Short-termdays to 2 weeks：Bearish
- Intraday view is bullish
- Price below the 20-day average
- Daily MACD below its signal line
- Daily RSI 51, neutral momentum
- 5-day change -0.1%, little net move
Medium-termweeks to months：Bullish
- Daily view is bullish
- Price above the 50-day average
- 20-day average above the 50-day
- Daily MACD below zero
- 20-day change +0.4%, little net move
Long-termmonths and beyond：Bullish
- Price above the 40-week average
- 10-week average above the 40-week
- 6-month up 7.0%
- Weekly RSI 60, positive momentum
- Weekly MACD below its signal line
The technical score combines several pieces of technical evidence, including moving-average position, momentum, recent performance, our level views and active chart patterns; more filled segments mean the evidence agrees more strongly. Support and resistance are the nearest levels from the intraday and short-term views. For reference only; not investment advice.
S&P 500 30 MINActive since Oct 27, 2026 23:45 UTC+8
S&P 500: Bullish above the pivot
Target level↑ 7,765.7
Pivot level7,692.0
Support7,661.0
Our preference
Above 7,692.0, look for a move towards 7,765.7.
Alternative scenario
Below 7,692.0, expect 7,661.0 and 7,642.5.
Comment
As long as price holds above the pivot, the upside structure remains intact. RSI is at 56 and MACD is below its signal line.
Full level ladder
| Resistance 3 | 7,802.7 |
| Resistance 2 | 7,784.2 |
| Resistance 1 | 7,765.7 |
| Price | 7,730.1 |
| Pivot | 7,692.0 |
| Support 2 | 7,661.0 |
| Support 3 | 7,642.5 |
S&P 500 DAILYActive since 2026-08-10
S&P 500: Bullish above the pivot
Target level↑ 7,966.5
Pivot level7,574.1
Support7,407.4
Our preference
Above 7,574.1, look for a move towards 7,966.5.
Alternative scenario
Below 7,574.1, expect 7,407.4 and 7,308.3.
Comment
As long as price holds above the pivot, the upside structure remains intact. RSI is at 51 and MACD is below its signal line.
Full level ladder
| Resistance 3 | 8,166.4 |
| Resistance 2 | 8,066.4 |
| Resistance 1 | 7,966.5 |
| Price | 7,730.1 |
| Pivot | 7,574.1 |
| Support 2 | 7,407.4 |
| Support 3 | 7,308.3 |
AI market story
Updated 2026-10-28 14:18 UTC+8S&P 500 near-term soft, medium-term bullish bias holds
The S&P 500 trades at 7,730.7, up 0.47% on the day but down 0.1% over five days and up only 0.4% over 20 days. Price sits near the 20-day average of 7,739.4, with RSI at 51 and MACD below its signal line, histogram shrinking for three sessions.
What you should know
Price journey: up or down lately?
It is up recently: 0.47% over the past day, though five-day is -0.1% and 20-day is 0.4%, so the move is a choppy range rather than a clear trend.
Trend: which way is the bigger picture pointing?
The bigger picture stays bullish: short-term soft, medium- and long-term bullish, with the daily view bullish while 7,574.1 holds as the pivot.
Momentum: gaining or losing strength?
Momentum is fading: RSI at 51 is unchanged from five days ago, and MACD sits below its signal line with the histogram narrowing for three straight days.
Key levels: which prices matter next?
Watch 7,765.7 and 7,784.2 as upside targets, then the 20-day high of 7,850.1; on the downside, 7,692.0 is the pivot, with 7,661.0 and 7,628.4 below.
FOMC and core PCE to lift S&P 500 volatility
The FOMC decision lands at 02:00 on 10-29, with the lower bound expected at 3.75 and upper at 4; the past 19 releases saw an average 80.4-point move over four hours, max 226 points, about 2.4 times normal. Core PCE is due 20:30 the same day.
What you should know
What is coming up on the calendar?
Key events cluster on 10-29: the FOMC rate decision, Alphabet and Microsoft earnings calls, plus September core PCE and Q3 GDP annualized initial reading.
How much do these events usually move the price?
FOMC has averaged 80.4 points over four hours after release, max 226, about 2.4 times normal; core PCE averaged 58.2 points with a 105.5 max; GDP averaged 56.4 points with a 111.8 max.
This content was generated with the assistance of AI from the Borearis Research Team's market data and analysis. For reference only; not investment advice. How we produce this content
Volatility stop
Daily uptrendsince 2026-09-21
Long trailing stop7,636.3
Distance from price1.23%
S&P 500 is above its daily long trailing stop. Long positions can reference 7,636.3 (1.23% away); it only moves up. A daily close below 7,636.3 signals the trend is weakening.
Calculated from the 22-day high (low) minus (plus) 3 times the average true range on the daily chart, and it only moves in the trend's favour. A common trailing-stop method, for reference only; not investment advice.
Thick line = trailing stop (green uptrend, red downtrend); vertical line = latest trend change; last 90 daily bars
Technical picture
- Price sits between the 20- and 50-day moving averages; the medium-term trend is undecided.
- Daily RSI is 51, neutral momentum.
- Daily MACD is below its signal line; daily momentum is down.
- Price is inside the daily Bollinger Bands (7,628.3 to 7,850.3).
Related economic events this week
| 10-27 22:00 | United States Oct Richmond Fed Manufacturing IndexAfter 27 past releases, S&P 500 moved 39.6 pts on average in 4 hours · max 85.5 pts | -2 |
| 10-27 22:00 | United States Oct Conference Board Consumer Confidence IndexAfter 28 past releases, S&P 500 moved 44.3 pts on average in 4 hours · max 116.5 pts | 91.7 |
| 10-29 02:00 | United States FOMC Rate Decision (Lower Bound) HighAfter 19 past releases, S&P 500 moved 80.4 pts on average in 4 hours (2.4× normal) · max 226.0 pts | 3.75 |
| 10-29 02:00 | United States FOMC Rate Decision (Upper Bound) HighAfter 19 past releases, S&P 500 moved 80.4 pts on average in 4 hours (2.4× normal) · max 226.0 pts | 4 |
| 10-29 04:30 | United States Alphabet Q3 Earnings Call High | — |
| 10-29 05:00 | United States Microsoft Q3 Earnings Call High | — |
| 10-29 20:30 | United States Sep Core PCE Price Index MoM HighAfter 26 past releases, S&P 500 moved 58.2 pts on average in 4 hours · max 105.5 pts | 0.3 |
| 10-29 20:30 | United States 3Q Real GDP Annualized QoQ Prelim HighAfter 27 past releases, S&P 500 moved 56.4 pts on average in 4 hours · max 111.8 pts | 3 |
Times in UTC+8. Grey = forecast. Full economic calendar →
News and sentiment for S&P 500
SentimentNegative 44
Last 24h0 stories
Last 7 days13 stories
7-day sentiment
The S&P 500 is bracing for a storm, with market sentiment turning cautious and volatility risk rising.
Zero-day options make up about 66% of S&P 500 options volume, dampening intraday swings but risking amplified declines if the contrarian flow reverses.
Goldman says retail trading is down 45% since late 2025, but household demand remains strong; it keeps an 8000 S&P 500 target.
US stocks face AI pullback and high rates, yet history shows S&P 500 gains 15.5% on average after midterm elections.
Guotai Fund warned that its S&P 500 ETF trades well above net asset value, flagging a notable premium and related risks to investors.
Trade signals for S&P 500
Short-term Signals 30-minute · held a few hours to a day
No recent short-term signals for S&P 500.
All short-term signals and results →
Swing Signals 1-hour and 4-hour · held a day to a week
No recent swing signals for S&P 500.
Chart patterns in play for S&P 500
No active 15-minute to 4-hour patterns for S&P 500 right now.
FAQ
Where are S&P 500 support and resistance levels today?
Intraday resistance: 7,765.7, 7,784.2, 7,802.7. Support: 7,692.0, 7,661.0, 7,642.5. Pivot: 7,692.0 (updated Oct 28, 2026 15:09 UTC+8).
Is S&P 500 bullish or bearish now?
Intraday: bullish. Short-term (daily): bullish. Bullish above 7,692.0, targeting 7,765.7 and then 7,784.2.
How has S&P 500 been trading lately?
S&P 500 near-term soft, medium-term bullish bias holds. The S&P 500 trades at 7,730.7, up 0.47% on the day but down 0.1% over five days and up only 0.4% over 20 days. Price sits near the 20-day average of 7,739.4, with RSI at 51 and MACD below its signal line, histogram shrinking for three sessions.
How do I read the S&P 500 technical score?
Currently short-term bearish, medium-term bullish, long-term bullish. The technical score combines several pieces of technical evidence, such as moving-average position, momentum, recent performance, our level views and active chart patterns, into short-, intermediate- and long-term readings. More filled segments mean the evidence points the same way; neutral means bullish and bearish evidence are balanced.
Where should a stop loss go on S&P 500?
S&P 500 is above its daily long trailing stop. Long positions can reference 7,636.3 (1.23% away); it only moves up. A daily close below 7,636.3 signals the trend is weakening.
Which economic events matter for S&P 500 next?
FOMC and core PCE to lift S&P 500 volatility. The FOMC decision lands at 02:00 on 10-29, with the lower bound expected at 3.75 and upper at 4; the past 19 releases saw an average 80.4-point move over four hours, max 226 points, about 2.4 times normal. Core PCE is due 20:30 the same day.
What is the pivot?
The pivot is the line in the sand for the view. In a bullish view it sits below price; a close below it invalidates the view and a new set of levels is drawn. The reverse applies to a bearish view.
Other markets
Live levels and price alerts in the app
The Borearis app has live levels for every market, price alerts, daily picks and AI analysis.
