March 29, 2024

Daily Wrap

Today the markets Started with a gap down over 10 points on the S&P 500 but quickly bottomed and started to rebound.  That rebound took the index all the way back to positive territory resulting in a nearly 20 point rally off the lows.  The index also retook the 200 Day MA but around 11:15 am EST the rally peaked and the midday slowly drifted back down morphing into a hard sell off into the close and leaving us at 1374.53 on the S&P 500.  This marks the 3rd day closing below the 200 Day SMA.  The 60 minute SPY…