The broad market index is fast approaching its 200-day moving average, which is at 6,582.
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Whether the S&P 500 can hold its 20-day moving average after Friday's downdraft is critical for the stock market's short-term…
New York Stock Exchange insider Jay Woods said the broader index will have to hold at 6,550 for an auspicious start to December.
The S&P 500 is within inches of reaching 7,000. History says it might take a bit longer before it climbs to that milestone level.
Market technicians are wondering if the S&P 500 leadership is broad enough to push the index to record levels.
The S&P 500's recent record-breaking run hit a wall, and some chart watching technical analysts now see consolidation coming.
The S&P 500 closed below its 50-day moving average on Monday. That may herald more pressure down the road.
