FBI email probe sends the S&P lower
The S&P index has tumbled on the FBI probe and in the process has moved away from the 50 and 100 day MAs at 2155.68 and 2144.47.
The next key target comes in at 2116.60 which is the 38.2% of the move up from the June low. The lows in September and October bottomed near that retracement level.
Intuitively, the probe certainly throws a huge monkey wrench days away from the election on November 8th. It is hard to see that this would be bullish for stocks and it potentially could be very damaging at least as all the dust settles.
Other support targets include the 50% of the move up at 2092.75 and then the 200 day MA at 2077.60. In June (after Brexit), the price felll below the 200 day MA (and closed below) for a single day. IT is not out of the question to go revisit that MA level.
