$SPX areas of support relative to week and mo. moving averages
Some interesting data points to watch on the S&P500 ...
Weekly close with a 40 moving average
Since 2012 price has found support (and resistance) along the weekly 40 ma.
Monthly close with a 30 moving average
Up until the crash in March, the monthly 30 ma is where price settled for end of month closes greater than 15% corrections.
If yesterdays selling continues into the end of June, that would mean another 6.5% pull back from here to the 2860ish zone.
Weekly close with a 40 moving average
Since 2012 price has found support (and resistance) along the weekly 40 ma.
Monthly close with a 30 moving average
Up until the crash in March, the monthly 30 ma is where price settled for end of month closes greater than 15% corrections.
If yesterdays selling continues into the end of June, that would mean another 6.5% pull back from here to the 2860ish zone.