Will These Lows Hold for the S&P 500? 🌤️ The Morning Print
Good morning!
The bears are in control to start the week, with the S&P 500 currently gapping below its December lows.
Let’s take a closer look.
The S&P 500 has been trapped in a tight range since October, now approaching its fifth month of consolidation.
The longer a range persists, the more forceful the eventual resolution tends to be.
A break below the December lows would likely set the index up for a test of the October lows, which also aligns with the 200-day moving average.
If support near $650 fails to hold, the focus may shift from buying stocks to looking for opportunities on the short side.
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