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Another bloodbath as the S&P 500 closes below the 200-DMA Worst week since March 2020

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Forexlive Latest News in Market News 12 198110
January 22, 2022 05:17

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The 200-day moving average in the S&P 500 is not to be taken lightly. The last time we had a genuine break below was at the start of the pandemic and it was a free fall from there. Notably, a few minor incursions (pun intended) below have ultimately been buying opportunities.

SPX daily

On the day:

  • S&P 500 down 85 points, or 1.9%, to 4397
  • Nasdaq -2.4%
  • DJIA -1.1%
  • Russell 2000 -1.4%

On the week:

  • S&P 500 -5.7%
  • Nasdaq -7.6%
  • DJIA –4.6%
  • This is on track to be the worst January for the Nasdaq ever.