It’s been 16-months since the S&P 500 touched the 200-day moving average but it briefly fell below that level at 5730 in a dip to 5721. Eyes will be on whether it closes above or below it.
A similarly-long streak above the 200-day took place from mid-2020 to early 2022. In that episode, the S&P 500 flirted with the level for months before ultimately breaking lower as the Fed began to signal rate hikes.
This article was written by Adam Button at www.forexlive.com.
