S & P 500 bounced off 200 day moving average again today. 40 week average or 200 day MA, which can be used interchangeably, is at 2618.89. At the time of writing this post, the market saw a low of 2617.32 today. Key level to watch is 2710 as this has proven to be a resistance. For a short term play, buy order at 40 week MA may prove to be a good buy. Let’s wait and watch.