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Monday, December 22nd, 2008
Day 80 For S&P 500 and The 50 Day Exponential Moving Average
Today was the 80th consecutive trading day that the SPX failed to close above the 50dEMA.
Going back to 1950, based on my data, 80 consecutive daily closes beneath the fifty day exponential moving average represents the fourth longest streak on record and is exceeded only by streaks of 83 days in 1974, 88 days in 1962 and 83 days in 1957.
I have charted the periods noted above to see if there are similarities in the manner in which price responded once the streak of closing beneath the 50 day EMA concluded.
S&P 500 in 1957, Eighty-Three Consecutive Days Closing Below The 50 Day EMA
S&P 500 in 1962, Eighty-Eight Consecutive Days Closing Below The 50 Day EMA
S&P 500 in 1974, Eighty-Three Consecutive Days Closing Below The 50 Day EMA
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