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S&P 500 Breaks Below 50-Day Moving Average

The S&P 500 closed below its 50-day moving average for the first all year today, ending a stretch of 74 trading days above its 50-day.  The 50-day is seen as a marker of whether a stock or index is in an uptrend or a downtrend, but what has it meant in the past when the S&P has broken below its 50-day after not doing so for a long period of time?

Over the last ten years, there have been 13 other instances in which the S&P 500 broke below its 50-day after not closing below it for at least 50 trading days.  The performance numbers for the market in the days and weeks following these breaks is shown below...

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