Wall Street Traders Hunt for Bottom as War Turmoil Continues

The S&P 500 fell 0.2% on Tuesday, dropping further below both its 50- and 100-day moving averages. Breaching both indicators illustrates bearish sentiment: the 50-day moving average is more of a short-term trend, while the 100-day moving average is viewed as more medium-term one. “It’s often a ‘check engine’ light for investors,” David Wagner, head of equity and portfolio manager at Aptus Capital Advisors, said when discussing the setup.