SPY has broken support at the 200 DMA and is now negative for the year. Bulls are trying to hold onto this session and have move SPY off the lows. Where the index closes for the day is important - can the bulls keep the worst of the losses trimmed to a minimum? Or will the bears finally score a victory - which hasn't happened since last October?
Watch the 204 level in coming days if today's close remains below the 200 DMA. The moving averages are close together, so it won't take much selling to cause a death cross.
Watch the 204 level in coming days if today's close remains below the 200 DMA. The moving averages are close together, so it won't take much selling to cause a death cross.