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Benzinga
Benzinga
Business
Mark Putrino

Has The Stock Market Bottomed?

ETF

The SPDR S&P 500 ETF Trust (NYSE:SPY) has landed on a support level. This is why the selloff has paused. It may stage a rebound, but if this support level breaks, it could fall even farther.

As you can see on the following chart, the $416 level was support for SPY in early March. The market found a bottom there and a rally followed.

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