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
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