For roughly a year, the 4,200 level on the S&P 500 has proven to be an almost-impenetrable barrier for U.S. stocks.
With a few exceptions, 4,200 on the S&P 500 has proven to be a nearly impenetrable barrier for U.S. stocks over the past year.
Seemingly like clockwork, the large-cap U.S. equity benchmark on Tuesday was retreating from that level once again as stocks suffered a steep daily fall. The S&P 500 SPX was down around 48 points, or 1.2%, near 4,120 in late afternoon trade, after hitting an intraday high around 4,186 on Monday. So, what is it, exactly, that makes 4,200 so intimidating for stock-market bulls? Ryan Detrick, chief market strategist at Carson Group, dispelled the notion that some magical force might be at play during a phone interview with MarketWatch.
Wald and his team maintain that the 2022 bear-market ended back in October when the S&P 500 briefly broke below 3,500 to trade at its lowest level since November 2020.“We’re stuck between a bull and a bear market in this environment where everybody gets to be proven wrong,” Wald said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What 20 years of equal-weighted indexes that try and improve on the S&P 500 showEqual-weighted indexes have a distinct tilt toward value, and small- to midcap stocks. There are times when they've outperformed, and times they haven't.
Read more »
Watch: Driver rescued after going over California cliff, plunging more than 500 feetAuthorities said the vehicle plunged more than 500 feet at Mt. Tamalpais and was stopped by a large tree.
Read more »
NYPD’s answer to TikTok car theft challenges: 500 free AirTagsNYC has seen a rise in Kia and Hyundai thefts.
Read more »
NYPD gave out 500 free Apple AirTag trackers in car theft crackdownABNY is donating 500 AirTags so the NYPD can distribute them to car owners to help prevent car theft in the city.
Read more »
Prolific sperm donor with over 500 children must pay $110K if he donates again, court rulesA Dutch court heard the case of Jonathan Meijer who promised mothers who used his sperm that he would stop donating to limit risk of accidental incest, but continued to donate anyway. Sperm donor with over 500 children must pay $110K if he donates again:
Read more »
Driver falls 500 feet from road on Mount TamalpaisA driver was seriously injured after his car fell approximately 500 feet over a cliff on a Mount Tamalpais road in Marin County on Friday night, officials said.
Read more »