- The S&P 500 is down more than 10% in only six days.
- The S&P 500 is about to end the New York session below the 200-day simple moving average (DMA).
- The spread of the Coronavirus is shaking the global markets.
S&P 500 daily chart
Bears are giving no respite to the American stock index which is on track to records its worst monthly decline since May 2019. The S&P500 is about to end the New York session below the critical 200-day simple moving average (DMA) as the market broke below the 3100 figure while printing fresh 2020 lows. The spread of the Coronavirus is making investors worried about the glabal economy. The break below the above-mentioned level might well see further selling towards the 3000 figure and the 2900 level. Resistance is seen at the 3100 and 3200 levels. Will President Trump be able to safe the market this time?
Additional key levels