The S&P 500 Is Testing a Critical Support Level

The S&P 500's pullback to its 50-day moving average represents a critical technical test. This level has held as support on multiple occasions over the past year, and how the index behaves here will set the tone for the weeks ahead.

Key levels to watch: 6,850 on the downside (50-DMA) and 7,050 on the upside (recent swing high). A decisive break below the 50-DMA could open the door to a test of the 100-DMA near 6,650.