After a disappointing week for bulls, stocks closed Monday mostly neutral on lower volume. The lack of direction is being credited to investors holding off until after the Fed’s planned statements set for tomorrow afternoon.
The thing that sticks out to me is that it looks as though the 50MA is going to serve as a new point of resistance for the S&P 500.
With the markets in a correction, the downward pressure on the markets will most likely cause this pause to falter but the most important thing (as always) is to let it play out.
You also might enjoy:
About Author
