SPX and Breaches of the 200-Day Moving Average
$S&P 500(.SPX)$ and Breaches of the 200-Day Moving Average:
Over the past decade, this "sacred line" has been breached from both bullish and bearish directions. It's a mistake to expect a perfect bounce from it, just as it is to declare a bear market if it's breached. Red arrows highlight bearish reversals that occurred above this line, while green arrows indicate bullish reversals from below it.
In the latest Weekly Compass (access via the link in my b!o), we analyze the imminent gap fill and the likelihood of a price bounce, along with the key level to monitor before making any premature decisions.
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