S&P Cycles From New High To Downtrend
The S&P 500 had spent nearly three months trading above its widely-watched 200-day moving average. It just ended that streak, and it triggered barely a month after the index was trading at a new all-time high.
This is one of the index’s quicker turnarounds from being at a multi-year high to falling below its average, and other times it cycled so quickly, it tended to rebound over the next few months.
See the May 31, 2019 report for more details.