Did The Stock Market Finally Kill Technical Analysis And Moving Averages Once And For All?

Here’s a chart courtesy of the Mad Hedge Fund trader. As you can see, the S&P 500 smashed decisively through the 50-day moving average, a level that had offered some kind of “support” during the run up.

But look, we’re rallying again. We haven’t (yet) had some gigantic breakdown, as technicians might have guessed.

chart

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