Make or break moment for stocks this week

Moment of truth for stocks this week

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The S&P 500 is under heavy pressure at key technical levels.

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With US futures weighed down today amid higher Treasury yields, the mood isn't looking good ahead of European trading.

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Wall Street will be the main focus as the S&P 500 is running into a test of key technical levels once again this week.

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The 200-day moving average at 3,940 is the key line to watch now.

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a break below that will set up a potential test of support at the 100-day moving average at 3,921

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As well as the 38.2 Fib retracement level of the swing higher from October at 3,926.

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The region between 3,921 to 3,940 is a major area to watch for the S&P 500.

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A breakdown in the technical levels outlined, that is likely to see sellers impose themselves further.

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Alongside a move above 4% in 10-year Treasury yields, that will be a big tailwind for the dollar if the above conditions fall into place.

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