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Stocks see some bounce. Bullard a little softer.

February 24, 2023 by admin 0 Comments

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S&P index hold support against its 200 day moving average

The major US stock indices are seeing a bounce higher. The comments from that Bullard were less hawkish. As Adam points out if there’s a Fed official who would push towards 6%, it would be Bullard. However, he is not.

Also helping is that the S&P index failed to correct below its 200 day moving average at 3940.13 (see earlier post). It reached a low of 3943.08.

The not so good news is that the NASDAQ index did break below its 200 day moving average at 11409.78. But the price of it has moved back up, and trades right around that level at 11410. It is threatening to fail on the break of the key moving average.

NASDAQ moves back toward its broken 200 day moving average

This article was originally published by Forexlive.com. Read the original article here.