S&P 500 spikes from the 200-day average, rallies to firmer technical ground

Technically speaking, the S&P 500 has snapped a nine-session losing streak — its longest since 1980 — in relatively impressive form. Consider that the pre-election reversal punctuates a successful test of the S&P’s 200-day moving average, and places the index on firmer technical ground atop the 2,117 breakdown point.