The S&P 500 whipsaws as investors struggle to find reassurance in US authorities’ emergency measures. A bearish MA cross on the daily chart suggests that the mood has remained cautious. Then a break below the daily support of 3935 came in as a confirmation, invalidating the latest rebound and turning it into a fresh resistance. The lower band of the December consolidation range around 3800 is the next support where the bulls might try to hold it together. Its breach could lead to a bearish continuation in the medium-term.
