Stock-market rout puts all eyes on 4,200 level for S&P 500

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The stock market selloff has the S&P 500 approaching a “cluster of support” on the charts, notes a top Wall Street technician.

The stock market’s extended rout turned the Dow negative for the year Tuesday and intensified the focus on a closely watched level for the S&P 500.

“S&P 500 quickly approaching cluster of support at 4,200,” said technical analyst Mark Arbeter, president of Arbeter Investments LLC, in a note and on X: Analysts have been flagging the 4,200 level as an important test of support. The S&P 500 SPX was down 1.2% near 4,237 early Tuesday afternoon, while a drop of nearly 350 points, or 1%, for the Dow Jones Industrial Average DJIA erased the blue-chip gauge’s 2023 gain. The S&P 500 remains up more than 10% for the year to date, buoyed by gains for megacap tech stocks.

As Arbeter notes, the 200-day moving average stands near 4,202 on Tuesday. And 4,200 is also near both a 38.2% Fibonacci retracement of the stock market rally off the October 2022 low and a 50% retracement of the rally seen off the March low.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 3. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

S&P 500 Earnings Yield Hits Highest Level Since Mid-May ’23Stocks Analysis by Brian Gilmartin covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Brian Gilmartin's latest article on Investing.com
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Q4 Kicks Off Amid Significant Risks: Is the Bull Market Already Over?Market Overview Analysis by Investing.com (Francesco Casarella) covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Investing.com (Francesco Casarella)'s latest article on Investing.com
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Tesla, Ford and WeWork shares fall, Netflix's stock gains, and other stocks on the moveHP's stock rallied after BofA swings to bullish from bearish, while McCormick's stock leads the S&P 500's losers after a sales miss.
Källa: MarketWatch - 🏆 3. / 97 Läs mer »