S&P index tests its next target area

The S&P index is will below the 4300 level and dipped briefly below the October low at 4278.94. The low price just reached 4271.71. It currently trades at 4286.

On Friday, the S&P moved below the 200 day moving average for the first time since June 2020. That moving average currently comes in at 4430.01. Getting back above that level is needed to decrease the bearish bias and give some hope for the dip buyers.

A swing area between 4233.13 and 4278.94 is the next target area to get to and through. Move below that level and the June 2021 low comes in at 4164.40. The May low was at 4056.88. Those levels are downside targets on further selling

From the all-time high to the low today, the S&P index has now fallen -11.35%.

In the other equity indices, the NASDAQ index traded down -17.89% from its all-time high. The Russell 2000 index reached a low -21.43% at its low price today from its all-time high. The Dow industrial average reached a low from its high of -9.49% so far today.