The S&P 500 failed to hold its annual pivot at 4,383 at the open on April 22, which can be viewed as a sell signal.
The S&P 500 had a 48.9% gain from its October 30, 2021 low of 3,234 to the high of 4,818 set on January 4. The close below the 50-day simple moving average at 4,681 on January 14, 2022 set the stage for downside risk. The death cross occurred on March 14 when the 50-day simple moving average fell below the 200-day simple moving average. The weekly chart for the S&P 500 is negative with the index below its five-week modified moving average at 4,253. The Monthly Chart for SPXMonthly Chart for the S&P 500 Going Back to 1987 Courtesy of Refinitiv Xenith.
Auto Amazon Links: No products found.
Auto Amazon Links: No products found.