SPY below 20-day MA; supports at 50-day and 200-day MAs may offer buying opportunities if they hold.
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Let's talk about you the 20-day. You actually noted that on the S&P 500, you were watching the 20-day, right? What does that tell you? So, well, we're below the 20-day now. So, you know, normally what we want to see is a positive test to that support level today, tomorrow.
Based on developments, doesn't look like we're going to get it. So, the next level of support is going to be the um 100 day moving average. Sorry, the 50-day moving average. And that that's a little over 1% away.
Next one after that is the 200 day moving average that clocks in a little over 3%. So, not a lot of downside arguably, uh, but potential areas of support that we will need to see that they hold.
And if they do, that can bring about some buying opportunities, you know, for others in the market, maybe even for us at the Pro Portfolio.
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