Stocks Hold At Support (for now)
On Saturday, we posted charts in Where could the stock market’s slide take us? For now, the markets have held at areas that made sense as of Friday’s close. Below, the charts as of Saturday’s post are shown in the “Before” portion and the charts as of Tuesday’s close are shown below the “After” portion.
While these charts show steps in the right direction, Monday’s moves do not mean much unless the markets can build on the gains.
A significant step would be for the markets to reclaim their 200-day moving averages. The 200-day on the S&P 500 stands at 1,116.
