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S&P 500: Volatility Set to Rise as Tech Stocks Lose Momentum

Investing.com Logo Investing.com By Michael Kramer
S&P 500: Volatility Set to Rise as Tech Stocks Lose Momentum

The S&P 500 gained 64 basis points, but the technology sector underperformed with the XLK ETF rising only 22 basis points. Apple fell below its 50-day moving average for the first time since July, while Microsoft trades below both its 50-day and 200-day moving averages. The analyst expects implied volatility to rise ahead of the jobs report and CPI release, with the VIX potentially moving into the mid-teens or higher.

Insights
AAPL   negative

Stock fell more than 1% and dropped below its 50-day moving average for the first time since July. Technical damage could worsen if it breaks below the $265 support level.