50 day MA at 1996.47
The S&P index peaked at 1999.31. The 50% of the move down from the July peak comes in at 1999.95. The high for the day - 1999.31. Close but no cigar.
The 50 day MA meanwhile comes in at the 1996.47. The index did get above that level but has moved back below. The current price is 1991.06. Again, close but no cigar....
So traders, news sources, media cannot give the "all clear" for an end to the stock market sell off. We still sit below a key MA and below the 50% midpoint. It is close, but just not there yet. No cigar.
