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  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0779
    -0.0014 (-0.13%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2622
    -0.0000 (-0.00%)
     
  • USD/JPY

    151.3070
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  • CMC Crypto 200

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  • FTSE 100

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  • Nikkei 225

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Are You Buying this Dip?

Since Tuesday the S&P 500 has shed about -2% and is now sitting right around 1500. Unless the index can close above 1520 on Friday, the S&P's weekly winning streak will end at 7. This certainly isn't a major pullback, and, frankly, it shouldn't come as a surprise. Stocks simply don't steadily march higher week after week.

But the question is: is this just a small dip before the market resumes its upward trajectory? Or is it the start of a bigger pullback?

There might be some technical support for those in the "buy the dip" camp. As you can see below, the 1500 level (give or take a few points) has provided a floor for the S&P in the recent past:

So will the 1500 level hold up again? Are you buying this dip? Chime in below.

Zacks Investment Research



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