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S&P 500 in danger of breaching support as tech momentum wanes, says analyst

Por: MarketWatch Business August 07, 2023

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“After 45 consecutive trading days above the [20-day moving average] the S&P 500 put in a few ugly days last week and now is poised to test some support levels. Initially the rising 50 DMA at 4406, but more meaningful support comes in at 4200-4300,” Krinsky said. Source: BTIG A retreat to 4200 would represent a roughly 9% drop from recent highs “which we think is reasonable even if this uptrend is set to continue later this year,” he... + full article



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