The Par Level: Will It Hold?
Posted on Monday, May 16, 2022 at 5:02 PM
Dan Passarelli, CEO - Market Taker Mentoring
The S&P 500 is trading right around $400 a share on the close today. In stock trading, we call big round even numbers like that "par." It's just a stock trader colloquialism. But the real question is, the par level: will it hold?
This has been a quiet week in the market. There are not a lot of financial reports coming out. There are not a lot of earnings this week. And volume today was very low. The market will be watching to see if this par support level holds or if it will break and support becomes resistance. If that happens there might be some more selling stocks that could lead to a lower market.
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