The market finally traded down to its 10-day moving average on European economic fears - again. Actually, test of the 10-day moving average should have happened days ago.
The S&P 500 index could not trade above its 200-day moving average, which is acting as resistance. Its 50-day moving average is now above the 100-day moving average, but still below the 200-day moving average. A slight positive for the broader market.
Charles
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