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.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.