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The S&P 500 dangerously close to 50 day moving average

(Image Source: Yahoo Finance)

As you can see from the chart above, the S&P 500 is moving dangerously close to it’s 50 day moving average. The last time the S&P hit the 50 day moving average it went significantly below. However, in recent months the 50 day moving average has been an area of strong support.  What will happen today?