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The S&P 500 index broke below its 100-day moving average, heightening concern among market participants. Lia Holmgren noted the index is now just 3 percent away from its 200-day moving average, highlighting the increased risk of further declines in equity markets.
Holmgren stated that while some investors are reacting with panic to these technical levels, her approach is to focus on accumulating quality names from her watchlist as the repricing unfolds. She also referenced a similar outlook from analysts at GS, who now concur that market pain is not yet over.