Stocks still in the bear’s den

Thursday 12 September 2024

The Market Ear with key technicals.

SPX – massive levels approaching

SPX is dipping below the 100 day moving average as of writing. 5400 is the big level to watch. Note the trend line, as well as previous highs/lows coming in at this level. 200 day is down at 5270.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.