Chart of the Day - Monday, March 24, 2025

🏆 Today's Chart of the Day was shared by Michael Nauss (@MichaelNaussCMT). 
 

• The S&P 500 ($SPY) gained +1.8% on Monday after gapping higher and rallying throughout the day. 
   
• It reclaimed its 200-day Moving Average for the first time in two weeks today, but Michael points out that $SPY is testing another critical level at $575. 
   
• $575 coincides with the January Low and the AVWAP from the all-time high (orange). Recapturing the 200-DMA was a big achievement for the bulls, but $575 is arguably more important, as this level has price memory.
   

The Takeaway: The S&P 500 reclaimed its 200-DMA for the first time in two weeks today, but a more important test lies ahead at $575.