×

S&P 500 breaks 1,900 ‘trapdoor,’ where to next?

A trader on the floor of the New York Stock Exchange.
Getty Images
A trader on the floor of the New York Stock Exchange.

U.S. stocks plunged Wednesday with the selling accelerating after the S&P 500 broke through a key level technical analysts were watching as support.

With this level gone, watch out below, said these market analysts, who solely study charts to make buying and selling decisions.

"The S&P 500 broke below 1,900 and that triggered a kind of trapdoor effect," Art Cashin, director of floor operations at the NYSE for UBS Financial Services, said on CNBC in reference to the market's drop late Wednesday.

The S&P 500 last traded at 1,900 in early October of last year.

So when will the selling stop? Chart analysts gave us the next levels to watch.

Contact Investing

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    Get these newsletters delivered to your inbox, and more info about about our products and service. Privacy Policy.