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What to Watch For in the S&P After Last Week’s Ugly Drop

April 16, 2024Mike Burnick

Last week was ugly for stocks, no doubt about it. And I’ve seen several questions from TradeSmith members about what’s happening in the stock market. So, I’ll use today’s column to share my views, backed up by the hard data you’ll find in our TradeSmith market indicators. Just to recap, the S&P 500 dropped 1.5% last week, and in the process ended the week right on top of key support near its 50-day moving average, around 5,115. Also, internal market