Stocks Reach Key Levels

Stocks have reached key support levels today and over the past few days.

This first chart shows the support levels from the market bottom on May 7th on the 4-hour chart. We have held that support level thus far today.

In this second chart showing the daily period, we see that stocks bounced down off the 50-day moving average resistance level (light blue line), and stocks have thus far held above support on the 200-day moving average (magenta/pink line).