FYI: Below is a one-year trading range chart for the S&P 500. The light blue shading represents between one standard deviation above and below the index’s 50-day moving average. As shown, after touching up against “overbought” territory a couple of weeks ago, the index is currently sitting right near “oversold” levels after today’s declines. While you may be feeling the pain after the action this week, though, things are definitely not nearly as bad yet as they were back in August and September.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/sp-500-trading-range-chart/
