With major equity indices pulling back again this morning, we wanted to highlight some of the key levels of support for the index. With regards to its 50-day moving average (DMA) of 1,010, the S&P 500 is still over 4% above that level. Looking at the 20-DMA, the S&P 500 would have another 1% to go before reaching that level (1,040). Coincidentally, the 20-DMA aso coincides with the highs from late August, so that is a level to watch in the short-term.
Subscribe to Bespoke Premium to receive more in-depth research from Bespoke.
Comments