S&P500 may break below 100 dma, Building Wealth, Investing, Retirement, Stock Trading, Freedom, Liberty, Life, History

Episode 122:  The DOW has broken below its 50 dma and the S&P500 is hovering just barely above its.

More importantly, the S&P500 is only 0.5% above its 100 dma.   If it breaks the 100 dma and doesn’t quickly recover, that’s a huge red flag because the 100 dma has been an extremely dependable support level.

That being said, this is an INCREDIBLY resilient market and two factors are in its favor:

  1. Volume has been extremely tame during down days, so apparently institutional investors aren’t running for the exits.
  2. The 10 dma is comfortably above the 100 dma…last October when the index dropped nearly 10% it was precipitated by the 10 dma breaking below the 100 dma.

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