Stock Market Today: Rally Pause

August 11, 2020, 4:02 pm EDT

Stock Market Today: Rally Pause

Finally, stock markets took a break with intraday reversal today with DJIA -0.4%, S&P -0.8%, Nasdaq -1.7%. Looking into the chart of S&P 500, we can easily see that 3300 becomes a key support level. 

Since this rally has been very strong for the past 4-5 months, there is no resting place of base in between. Thus, if the key support is broken, it is possible sharp drop could come to rewind upswing tension.

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