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S&P 500 $SPX is testing its 20D moving average again. It hasn't closed below it since January 17 https://t.co/qGXgGMHK8m
$spy gave us a few new points of reference as we try and measure and trade the action in the week/days/months ahead. Below the 8day. Above the 21day. https://t.co/2M8QuCr0D5
$SPX The 20dma has been support every time since October 2023. A couple times it did go slightly under only for an immediate bounce back over. Today we are 3 inches (heh) away from kissing the 20dma again. Trending trend? Or trend break?
The S&P 500 index is currently testing its 20-day moving average, a key support level that has not been breached since January 17. Traders are closely monitoring the index's movement as it nears this crucial technical indicator, with previous tests resulting in bounces and new all-time highs. Analysts are debating whether the index will maintain its upward trend or experience a potential trend break.
