The 200 Days Moving Average means anything? I don’t really know, I suppose it is only a moment for the market, but for many technicians is relevant and is considered significant as many analysts see the breach as a sign of further declines. The SP500 closed first time below the 200MA since November 2012. I guess it is only a technical superstition nothing more. Statistically is not proving anything neither bear nor bull market.
The sell-off is still continuing, Monday was also a pretty red day. The big volatility also predicts some big movement needs to come shortly.
Technically below 1.960 nothing will happen, only if this key resistance level would be taken it should mean bullish trend again for the SP500.
The BFM Assets Team.
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