Stock Market Today: 200-Day Moving Average Gets in the Way

Dan Russo

The stock market rally hit a brick wall over night after the S&P 500 tested its 200 day moving average.

This could prove to be formidable resistance for market bulls.

We are near-term overbought, but the rally has been constructive. Will that lead to some backing and filling here?  We discuss this and more – below are the highlights from today’s video:

–  S&P 500’s 200-day moving average looks like major resistance (bolstered by volume).

–  Long-Term breadth is currently constructive.

–  Short-term breadth is currently extended.

Stock Market Today Video – February 7, 2019

Twitter:  @DanRusso_CMT

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