The S&P500 moved through its 200-day moving average this morning and has bounced almost 20 points back above the low for a day back through the 200-day . Since early 2016, the 200-day has acted as steel support for stocks, and a trampoline to launch strong reversal rallies.
We count only one close below the 200-day since early 2016, in early April.
Charlie B. recently noted the S&P500 ETF has closed 571 straight days above its 200-day moving average, an all-time record.
The level to watch today is 2765.91.