Asset Watch
Thursday, March 30, 2023
However, when the index dipped below its 200-day MA intraday on Mar. 24/25, buyers quickly stepped in, and the S&P 500 closed above the key level.
So, while U.S. nonfarm payrolls are scheduled for release on Apr. 7 and often move the market, Q1 earnings season also begins on Apr. 14. Therefore, volatility should rise in the weeks ahead, and the S&P 500’s movement around the MAs will provide important clues about its medium-term direction.
In the meantime, should you remain bullish above the 200-day MA (3,931.54) and turn bearish if it breaks?