The 200-day moving average in the S&P 500 is not to be taken lightly. The last time we had a genuine break below was at the start of the pandemic and it was a free fall from there. Notably, a few minor incursions (pun intended) below have ultimately been buying opportunities.
On the day:
- S&P 500 down 85 points, or 1.9%, to 4397
- Nasdaq -2.4%
- DJIA -1.1%
- Russell 2000 -1.4%
On the week:
This article was originally published by Forexlive.com. Read the original article here.