However, some aren’t worried about the S&P 500 failing to break decisively through the 200-day average. [S&P 500 ETFs Testing 200-Day Average]
The iShares S&P 500 (NYSEArca: IVV) was down 0.7% year to date as of Nov. 9, according to Morningstar.
“It’s not unusual for markets to take out important resistance levels and come back and retest, almost like a fake- out, but then go on and re-challenge them again and ultimately break through on a second or third attempt,” John Kattar, chief investment officer at Eastern Investment Advisors, told Bloomberg. “The market has the potential to grind higher, to take out the 200-day moving average.”
iShares S&P 500 (NYSEArca: IVV)
