The S&P 500 crossed its 200-day moving average for the third day in a row today. It’s been rejected shortly after each trip above that line. Given the bearish candlesticks it’s printed over the last two days and the stochastic indicator I won’t be surprised to see the index head back down toward 1170. Still, a close above the 200 DMA, preferably on strong(er) volume would change my outlook.

The Nasdaq also bumped up against resistance today. It got within 50 cents of its 50-day moving average and fell back. This October rally is looking tired right now…