The stock market, as measured by the S&P 500 Index SPX, rallied on Thursday and has confirmed 4080 as a strong resistance level, with further resistance up to 4200. On the downside, there is support in the 3760-3850 trading range from last December. SPX has probed down into that range, and a break below 3760 would be extremely negative — not only from the viewpoint of violating support, but it is also considered a bear market condition if the December 2022 lows are taken out.
This week, SPX traded down sharply enough that…
This post was originally published on MarketWatch
You must log in to post a comment.