04/14: Market Update - S&P500 officially flashes the death-cross
Market indices were choppy but all closed green - S&P500 & NASDAQ up 0.79% and 0.64% respectively. Near-term indicators point to bearish sentiment.
Near-Term Trend: Bearish — Key support levels to watch: 5,405, 5,325, 5,220, and 5,130
The S&P 500 has officially entered death-cross territory (just barely… for now), with the 50-day MA closing at 5,748 and the 200-day MA at 5,753.89. This technical crossing has historically been a bad sign for the index over the next 15 to 20 trading days. Looking at m…
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