S&P 500 Is at a Very Key Point on the Charts as Market Tries to Find Some Footing
The S&P 500 is just about to touch its 100-day moving average, an indicator technicians use to gauge the strength of the underlying that they are trading.
Bob Lang, Chief Options Strategist of Explosive Options tells TheStreet's Jill Malandrino the S&P 500 is just about to touch its 100-day moving average, an indicator technicians use to gauge the strength of the underlying that they are trading. When the S&P traded this pattern in the past year, stock prices came down a bit, but it was enough of an oversold condition for buyers to come back in. Lang shares two stocks that look attractive for a long position based on the charts. He likes Ulta Salon, Cosmetics & Fragrance in the retail space, a stock owned in TheStreet's Trifecta portfolio. In the tech space, Lang is getting more constructive on Sandisk.
