A fourth consecutive decline in the S & P500 pushed the index to an important technical level. For a moment the price went below 200 - the daily moving average, which is the first time since mid-February. Breakthrough and retention under the curve is considered a bullish signal from technical analysts.
Previous attempts to break technical support in the 200-year period were followed by an immediate or recent withdrawal of the price. The price has not been able to stay longer than 2800.
Some of the world's largest technology companies have been keeping the markets out of too strong sales in recent market sessions, but the sector is starting to experience serious difficulties in keeping the front, with Facebook and Alphabet down 1%.
Shares are still under pressure as the year began after a number of cuts in economic growth forecasts and reports and doubts about the success of US-China trade talks.
Earlier in the week, the S & P500 went over 2,800, but did not stay and stay around the October and November rally. The index, however, remained in positive territory with 9.7% growth since January.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
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