S&P Rebounds as 200-Day Average Breach Serves as Turning Point
The S&P 500 briefly broke its 200-day moving average Tuesday for the first time since October.
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What broke the U.S. stock market’s back nine months ago proved to be its springboard on Tuesday.
The Standard & Poor’s 500 Index reversed a loss of as much as 1.2 percent to close higher by 0.6 percent, capping the biggest intraday reversal in almost four months. The rebound began after the index briefly fell below its average price in the last 200 days, a level monitored by technical analysts.