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S&P 500 fell below longer-term 200-day moving average once more
(Bloomberg) — The S&P 500 index fell below its 200-day moving average on Wednesday — a level traders use to assess whether the benchmark index’s long-term trend is bullish or bearish — for the first time since late March. . The move might point to further weakness in the stock market following the Federal Reserve signaled that will reduce his huge bond holdings while raising interest rates to combat decades of high inflation. On Tuesday, the S&P 500 closed above its 200-day moving average for the ninth straight day, a pattern it showed in early February before resuming a downtrend.
original note:
S&P 500 Falls Below Key Long-Term Level: Chart
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