Market Currents

As markets sell off into the close, technicians are keeping an eye on 1380 for the S&P 500...

Thursday, November 8, 2012, 3:52 PM ET
As markets sell off into the close, technicians are keeping an eye on 1380 for the S&P 500 (it's at 1381 as this is posted). A fall below would put the index below its 200-day moving average - a level breeched by the DJIA and the Nasdaq yesterday - and set the market up for more selling, they say.

This Market Current was sent to 21,548 people who get email alerts on SPY.

Get email alerts on SPY »

Share this Market Current

Short URL:

Track new comments on this story

This news story has 2 comments:

haruglory12 Comments (53)

FYI, all the major averages closed below the 200-SMA on June 1, 2012. However, the (SPY) did not because the ETF is adjusted for dividends. (SPY) never closed below the 200-SMA and the low in all indices was the in the next trading day June 4, 2012. Today (SPY) is still above the 200-SMA even though $SPX closed below the 200-SMA today. A trend? I don't think so but this is still useful information.

8 Nov 2012, 04:33 PM Reply Like

Geoffrey Harris Comments (794)

There have been many cases where stocks and indices bottom out at or right below their 200-day moving average after a final burst of technical selling has led to overshooting lows.

8 Nov 2012, 07:18 PM Reply Like

LATEST|

TODAY SO FAR|

YESTERDAY

Other date

DJIA (DIA) S&P 500 (SPY)