S&P Slumps To Critical Technical Level

A weak Manufacturing PMI and the narrative is shattered...

All the major US equity indices are at (or below) critical technical support levels:

  • Nasdaq (upper left) - broken below 50- and 100-DMA

  • Russell 2000 (lower left) - broken below 50-, 100- and 200-DMA

  • Dow (upper right) - testing down towards 50-DMA

  • S&P (lower right) - testing 50-DMA for the 3rd time in a week...

Will 3rd time be the charm for the bears?