SPX Market Breadth Sours as U.S.-Iran War Continues

Less than 50% of S&P 500 stocks are trading above their 200-day SMA, signaling weak breadth. Charles Schwab's Joe Mazzola says potential 'bounce levels' in the SPX will hinge on where markets close Friday as current breadth is insufficient to counter ongoing U.S.-Iran driven volatility. Monitor the close for near-term support/resistance and short-term directional risk.

Analysis

Less than 50% of S&P 500 stocks are trading above their 200-day SMA, signaling weak breadth. Charles Schwab's Joe Mazzola says potential 'bounce levels' in the SPX will hinge on where markets close Friday as current breadth is insufficient to counter ongoing U.S.-Iran driven volatility. Monitor the close for near-term support/resistance and short-term directional risk.