This Is The Most Important Level To Watch On The S&P, Says Equity Strategist
Everyone is looking at the S&P 500 's 200-day moving average. There's another key support level that could provide a clearer signal of market distress.
If the market does decline further, the most important support level will be 2,581 on the S&P 500. That was the closing low on Feb. 8 and April 2. Any meaningful close below that level would raise a big red flag on the stock market over the near term.