S&P Retakes Its 50-Day AND 200-Day, What's Next?

Financial Research, Money Management • Apr 8, 2026 at 7:04 PM EDT

The S&P 500 reclaimed its 50 and 200-day moving averages as markets surged 7% off recent lows on news of an Iran ceasefire. This rare breakout signals tech momentum while Energy (XLE) successfully tested key support.

7% Off the Lows

The S&P gained 2.5% today and had its sixth straight positive day on news of the Iran ceasefire.

As shown below, the biggest winners came from Semis, Tech Hardware, and Consumer stocks:

Since the lows at the end of March, the S&P has rallied 7% and is now a little more than 2% away from all-time highs.

Notably, the S&P closed back above both its 50-DMA and its 200-DMA, something that has occurred fewer than 20 times (for the first time in at least a month) since 1953 when the current five-day trading week began.

Energy Bounces Off Its 50-DMA

Before you go, take a quick look at the bounce the Energy sector ETF (XLE) saw off its 50-DMA this morning after a big gap down:

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