Over the next few days market technicians will be watching the behavior of the S&P 500 in relation to its 50-day moving average. The selloff last week dropped the index fractionally below this bellwether moving average, with Friday's close just a hair above the line — appropriately red on our Stockcharts.com snapshot.
Will the 50-day MA provide support? We can entertain ourselves with a bit of technical trivia while waiting for Alcoa to kick off the third-quarter reporting season on Wednesday.
Over the next few days market technicians will be watching the behavior of the S&P 500 in relation to its 50-day moving average. The selloff last week dropped the index fractionally below this bellwether moving average, with Friday's close just a hair above the line — appropriately red on our Stockcharts.com snapshot.
