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.