A long time between tests
It’s been a long time since the S & P 500 tested the 200 day moving average, hasn’t it?
Last year we spent much of the middle portion of the year (roughly March – September) underneath the 200. Since then it’s now been eight plus months without a whiff of that level. And the market stayed above the 200 from July 2009 to March 2010 as well — another ten months. A trip down to 1240 this sometime this summer to keep everyone honest is certainly a good possibility; but what happens after that is any one’s guess!
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