We mentioned the first test in Thursday's "S&P 500 Approaches First Test: The Declining Trendline (SPY)"
S&P 500 Cracks 50-Day Moving Average
The S&P 500 today has busted through its 50-day moving average for the first time since late July.
The index is up 2.7% to 1186.84, its highest intraday level since late September, and just poking its head above its 50-day moving average for the first time since July 28, notes Eddy Elfenbein....MORE, incl. chart.Also on Thursday, "Can the S&P500 Clear the Red Zone?" (SPY) pointed to MAJOR congestion at 1215