S&P 500 Rebounds to 7,431 After 4.5% Pullback Hits 50-Day Average
Updated
Updated · Investing.com · Jun 15
S&P 500 Rebounds to 7,431 After 4.5% Pullback Hits 50-Day Average
3 articles · Updated · Investing.com · Jun 15
Summary
The S&P 500 closed Friday at 7,431.46 after sliding 4.5% from its May 27 record near 7,621 and finding support almost exactly at its 50-day moving average.
Nine straight weekly gains had left the market overbought: the 14-day RSI fell from above 70 to the low 40s, then Thursday’s 1.75% bounce showed broad participation rather than a narrow megacap-led rebound.
Money-flow signals also improved, with the Money Flow Breadth Ratio rising to 60% on June 12 from 55% a week earlier, keeping the model’s equity exposure at 100%.
The report still flags summer correction risks from record $1.30 trillion margin debt, weakening retail demand and a 10-year Treasury yield near 4.45% that tops the S&P 500’s roughly 3.7% earnings yield.
Attention now shifts to whether the index can hold 7,248 through Wednesday’s Fed meeting; a break could turn a routine shakeout into a deeper seasonal pullback.