The August sell-off has the market testing some key levels. Here's a breakdown

  • 📰 CNBC
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The 4200 is a key support level for the S&P 500.

The August sell-off has stocks testing some key technical levels, spurring investors to watch where equities will go next. The Dow Jones Industrial Average and S & P 500 broke below their 50-day moving averages last week , a sign that the technical backdrop for stocks has worsened since the start of August.

's Jonathan Krinsky said 4,200 could provide "meaningful support" for the S & P 500 and represent a logical spot for a bounce. However, he suspects any move higher will face pressure. "Medium term ... we see further downside as weekly momentum remains negative and there is little in the way of meaningful support until ~4200 for the SPX and 318-320 for the [Nasdaq-100]. That would represent ~8.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines