The three day rally in the world's most important stock market (S&P500) stalled yesterday, falling 0.22% to 2737. The strong candle on Wednesday following Governor Powell's more Dovish than expected speech, closed north of the key 20-day moving average. However, following two 10% corrections this year the even more important 200-day moving average remains vital. A breach and break of this level at 2750 and then the November high at 2815 needs to hold before last weeks low at the 2630 zone can be called the floor. December awaits.
