The S&P 500 breaks below 4,000 turning support into overhead resistance again
Friday’s 1.05% retreat in the Standard & Poor’s 500 took the index down 42.28 points to 3,970.04. The cliche is that with a drop like this support–at 4,000–turns into resistance to the market moving higher. That’s a depressing thought to anyone who looks at a chart showing how long it took–and how many tries–before the index moved decisively above 4,000 on January 20, 2023.
