It will be interesting to watch how the S&P 500 interacts with the 50-day moving average this week. Last week the index oscillated around the 50-day MA, closing the week below this popular indicator. The Monday intraday high came within a hair of the 50-day MA before falling back — still closing in the green. Will the 50-day MA, which provided support in early October, now offer resistance?
We'll post the occasional Stockcharts.com snapshot to see how this "encounter" plays out.
It will be interesting to watch how the S&P 500 interacts with the 50-day moving average this week. Last week the index oscillated around the 50-day MA, closing the week below this popular indicator. The Monday intraday high came within a hair of the 50-day MA before falling back — still closing in the green. Will the 50-day MA, which provided support in early October, now offer resistance?
