The selloff last week dropped the S&P 500 fractionally below the 50-day moving average (MA), with Friday's close just a hair above the line — appropriately red on our Stockcharts.com snapshot. Today this bellwether MA gave us a good bounce, although on fairly slender volume.
Will the 50-day MA continue to provide support? We can entertain ourselves with this bit of technical trivia while waiting for Alcoa to kick off the third-quarter earnings season on Wednesday.
The selloff last week dropped the S&P 500 fractionally below the 50-day moving average (MA), with Friday's close just a hair above the line — appropriately red on our Stockcharts.com snapshot. Today this bellwether MA gave us a good bounce, although on fairly slender volume.
