by bigbear0083
Just wanted to put this out for discussion.
Thursday was only the 3rd time over the past 2 1/2 years that the SPX (S&P 500 Index) closed under the daily 200MA.
It managed to close above the 200MA on Friday (albeit just barely).
As illustrated in the chart above, this longer term moving average has acted as support every time since BREXIT.
Begs the question if this will be supported once more from here.
However, a convincing break below this could be pretty damning for the market.
NOTE: This is simply just an observation. Not the be-all and end-all indicator.
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