S&P index trades above and below unchanged. Key MA looms below.

The S&P index managed to close above its 100-week moving average Moving average A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term last week for the first time since August, a feat that, although achieved by a slim margin Margin Margin is a certain amount of collateral a trader places with a broker when he wants to trade with borrowed funds. This is done with a margin account, and it lets you to trade with leverage, increasing your buying power and multiplying your potential profit. Of course, trading on leverage increases both the potential profit and potential loss. Generally, the margin requirements are low, say 3% minimum depending on the instrument, and to open a position you’re required to set aside a certain amou Margin is a certain amount of collateral a trader places with a broker when he wants to trade with borrowed funds. This is done with a margin account, and it lets you to trade with leverage, increasing your buying power and multiplying your potential profit. Of course, trading on leverage increases both the potential profit and potential loss. Generally, the margin requirements are low, say 3% minimum depending on the instrument, and to open a position you’re required to set aside a certain amou Read this Term, hands more control to buyers.

In today's trading, the index hit a new peak since the week of August 15, at 4231.10, before retracting into negative territory with a low of 4201.95. Notably, this is still above the current week's 100-week moving average of 4198.84.

Technically, if the index can maintain its position above this moving average, it bolsters buyer control, potentially paving the way toward a long-term target of 4311.69, which represents a 61.8% retracement of the drop from the 2022 high to the 2022 low.

However, should the index dip below the 100-week moving average, the 50% midpoint of the same downward trend at 4155.10 becomes a viable target for traders. Any further declines could suggest additional downward explorations following the failed attempt to sustain above the crucial 100-week moving average