Chris Ciovacco: S&P 500 hypothetical pullback to 200-day average would be 7.10%

Chris Ciovacco: S&P 500 hypothetical pullback to 200-day average would be 7.10%
S&P 500 pullback to 200-day average

Chris Ciovacco said that if the S&P 500 were to drop from last week's closing high to the rising 200-day moving average by Wednesday, it would represent a typical pullback of 7.10%. Ciovacco emphasized that the outcome remains uncertain and will unfold day by day.

Earlier this month, Chris Ciovacco noted that recent charts may be reflecting some of the biggest current market fears, suggesting a shift in sentiment /news/market-voices/show/3639299-market-fears-chart-trends/. He also observed that all S&P 500 sectors were trading higher except for real estate /news/market-voices/show/3670408-sp500-real-estate-lags/. These observations provide context for his current assessment of possible S&P 500 pullbacks.

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