RE: ...20 Aug 2021 13:52
""As you can see, the 50 MA has been a solid and consistent support this year. We have touched it, or have come close to touching it, eight times, but on no occasion has the index closed below the line for two consecutive trading days. If it does in the coming weeks, it will prompt an acceleration of the selling. When a technical signal is that obvious and well defined, it becomes a self-fulfilling prophecy. It is clearly a significant support, so a break of it will signal a move lower, which will prompt the selling that will cause a move lower.""
DYOR