Markets hit 200‑day wall
Stocks tried to rally but all the major indexes ran into resistance at their 200‑day moving averages during a three‑day attempt — small caps (Russell 2000) actually outperformed, up about 1.2%. (youtube.com) Marvell Technology showed the heat this week with a technical breakout and roughly a 12% gain for the week, signaling chip strength amid headline risk. (youtube.com)
Relief rallies from March 23–25 failed to clear the S&P 500’s long‑term trendline; the S&P’s 200‑day simple moving average was about 6,630.82 as of March 25. (markets.financialcontent.com) The Nasdaq‑100’s 200‑day was 24,383.77 while the index was trading near 24,238 on March 25, and the Dow’s 200‑day was 46,635.03 versus a close around 45,949 on March 26. (wallstreetnumbers.com) Small‑caps showed relative strength inside the attempt: the iShares Russell 2000 ETF (IWM) closed up 1.22% on March 25 even as IWM sits roughly 10.9% below its January peak, a move that has pushed the small‑cap complex into correction territory. (seekingalpha.com) Marvell’s price action this week arrived after the company reported record fiscal 2026 revenue of $8.195 billion and Q4 revenue of $2.219 billion with Q4 data‑center sales of $1.651 billion, and management flagged FY27 revenue potential approaching $11 billion. (marketscreener.com) The technical backdrop hardened after a synchronized “triple breach” on March 19, when the S&P 500, Nasdaq‑100 and Dow all closed below their 200‑day moving averages in the same session. (financialcontent.com) Macro and headline pressure amplified the resistance: the Cboe VIX was around 25.9 and WTI crude traded near $88.79 while a poorly received two‑year Treasury auction pushed short‑end yields higher, according to Schwab’s market open notes. (schwab.com)
