S&P 500 Daily Update for Thursday Match 27, 2025

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Summary of the Daily Update for Thursday, March 27, 2025:
The market experienced a down day, with the S&P falling below its 200-day moving average. Despite this, there wasn't significant technical damage, and subtle improvements observed recently are mostly holding up. However, the quick return to the 200-day moving average after breaking above it raises concerns about the support level's strength. The market is positive in the short term (based on the 20-day moving average), negative in the intermediate term, and mixed in the long term.
Defensive sectors such as staples, utilities, energy, and real estate performed well, while growth areas, particularly tech and semiconductors, took a significant hit. This rotation to defensive posturing is a potential warning sign. President Trump's expected tariff announcements on auto imports contributed to market jitters.
The S&P dropped 1.12%, closing below the S3 pivot point but above 5700 after hitting S4 support at 5695. Volume remained below average, even on this down day. The VIX rose to 18.33 but stayed below 20, a positive note. Interest rates and the dollar edged up slightly, with the 10-year yield at 4.34%.
Key economic data included a 2% drop in the Weekly MBA Mortgage Applications Index (less negative than the prior week's 6.2%) and Durable Goods orders rising 0.9% (beating expectations of a 1.2% decline). Sentiment remains pessimistic, though a slight uptick in sentiment occurred despite the down day.
Looking ahead to Thursday, March 27, the market outlook is mixed, with jobless claims, GDP (third reading), and pending home sales data due. No video will be prepared for Friday, March 28. The Core PCE report on Friday could influence the markets, alongside ongoing concerns about tariffs, inflation, and geopolitical tensions. Seasonality for March 27 leans slightly negative, and the week after options expiration has historically been weak.

PDF of Charts and Slides used in today's video:
https://drive.google.com/file/d/1GWe3U5GYmvbIG4eHfAjl2dh--kxj1VpA/view?usp=sharing

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DISCLAIMER This video is for entertainment purposes only. I am not a financial adviser, and you should do your own research and go through your own thought process before investing in a position. Trading is risky!