S&P racing away from the 50 day MA
The S&P gapped lower, and not far from that gap, the price fell below the 50 day MA at the 2164.19. The price decline has extended to 2143 area (trading at the lows currently). The next target on the daily chart comes at the 2116-2120 are where the 38.2% retracement of the move up from the summer time low is found (at 2116.36) and the 100 day MA is currently located (at 2120.33). The price last traded below the 100 day MA on June 28th. On the break below, it was only for 2 trading days (see chart below).