S&P 500 continues retreat from 200-day moving average

Technical Analysis

Stocks drop to the lows of the day

The S&P 500 is below 2700 and the 100-day moving average after this weeks test of the 200-day moving average failed.

Technicals are playing part in the market. The S&P 500 bottomed in December at the 200-week moving average and now the 200-dma has capped the rally. The trigger (or excuse) for the accelerated selling today was a comment from Kudlow that the US and China still had a “pretty sizeable distance to go” in talks.

The 55-day moving average down at 2618 is a possible retracement level to watch.


Products You May Like

Articles You May Like

Brexit – UK Times reports 40 Former British Ambassadors call on May to delay Brexit
This retirement saving strategy can make up for lost time
Kiwi surges on less-dovish RBNZ
PRO Talks: Leuthold investments strategist Ramsey likes value, overseas stocks
GBPUSD Spikes Higher, NZDUSD Outperforms, EURUSD Soft – US Market Open

Leave a Reply

Your email address will not be published. Required fields are marked *