This is the level to watch in the S&P 500 as stocks touch bear-market territory

ended trading about 5% lower, just short of a bear market, which is defined as a 20% drop from recent highs.

"What I mean by that is, if you look at the lows you'd seen in December of '18 to the highs we put in only about two weeks ago, you've seen these sell-offs really obey Fibonacci retracement levels," the senior technical research analyst at Piper Sandler said Wednesday on CNBC'sFibonacci retracement levels are widely used in technical analysis to find potential areas of support or resistance in stocks and indexes.

On Wednesday, the S&P ended trading at 2,741.38 with a nearly 5% loss for the day, but Johnson warned there could be more weakness in store.

TradingNation Stop watching technical levels. They mean NOTHING right now. get_a_clue

TradingNation 😂

TradingNation Forget about correction... forget about bear ... this is crisis ...Walt and see

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500 narrowly avoids a bear market as WHO declares coronavirus a global pandemicU.S. stocks fell sharply lower Wednesday, as investor angst persisted over economies reeling from the coronavirus outbreak. You trying to give Obama credit... bs propaganda. 🙄 Yeah being juvenile is hard
Source: YahooNews - 🏆 380. / 59 Read more »

Goldman says the bull market will end soon with stocks dropping another 15% from hereGoldman's top U.S. stock strategist cut his mid-year S&P 500 forecast to 2,450, meaning the bank sees the market falling another 15%. I think the bull has already been slaughtered. of course they say that, they want everyone to sell while they are slowing buying into the current drop. Bullish
Source: CNBC - 🏆 12. / 72 Read more »

S&P 500 narrowly avoids a bear market as WHO declares coronavirus a global pandemicU.S. stocks fell sharply lower Wednesday, as investor angst persisted over economies reeling from the coronavirus outbreak. You trying to give Obama credit... bs propaganda. 🙄 Yeah being juvenile is hard
Source: YahooNews - 🏆 380. / 59 Read more »