economy

March 9, 2026

When will the selling stop? Jay Woods and other traders are watching this key S&P 500 level

The broad market index is fast approaching its 200-day moving average, which is at 6,582.

When will the selling stop? Jay Woods and other traders are watching this key S&P 500 level

TL;DR

  • The S&P 500 is nearing its 200-day moving average support at 6,582.
  • This level represents a critical technical indicator for the long-term trend of the index.
  • Traders are watching to see if buying interest emerges at this support level.
  • A break below the 200-day moving average could trigger a 10% market correction.
  • Previous pullbacks have been met with buying, supported by expectations of fiscal stimulus, easy monetary policy, and AI productivity gains.
  • Recent concerns about AI disruption, private credit, and inflation have not significantly impacted the index until now.
  • Current market pressures include the U.S.-Iran war and spiking oil prices above $100 a barrel.

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