For The Next Hour And A Half, Everyone In The Market Is Watching This Diagonal Line

From Eddy Elfenbein

The whole world is watching the S&P’s “50-day moving average”, one of those “technical indicators that people worry about on the basis that if the market falls through it, stocks will really tank.

According to Eddy, the number to watch on the S&P is 1428.47. The market is just below that level right now.

Photo: Bloomberg, Business Insider

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.