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One hopeful sign for hard-hit stocks: S&P 500 is below its 50-day moving average

·3 min read
One hopeful sign for hard-hit stocks: S&P 500 is below its 50-day moving average
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The S&P 500’s breaking below its 50-day moving average last Friday is not a good reason to sell. In fact, the S&P 500 (SPX) over the past four decades has performed better than average when the market was below its trailing-50-day average. There’s no way of knowing how much of Monday’s stock market plunge was caused by knee-jerk technicians who decided to build up cash because of Friday’s action.