Buyers Defend the 100-Day Moving Average π The Chart Report
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Chart of the Day
π Today's Chart of the Day was shared by Bluekurtic Market Insights.
Over the past few years, the 100-day moving average has consistently acted as reliable support for the S&P 500.
The last time price fell beneath it, resulted in the sharp selloff in April of last year.
Todayβs session saw a swift reversal from the intraday lows as buyers stepped in at that level once again, proving its importance.
The Takeaway: The 100-day moving average continues to act as key support, with a break lower raising the odds of a deeper pullback.
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