The S&P 500 hits an ominous milepost, but trader says it may not be so bad

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The S&P 500 hits an ominous milepost, but trader says it may not be bearish (via TradingNation)

between oil heavyweights Saudi Arabia and Russia acted as opposing forces in the session.

In the above chart, the S&P's 50-day moving average, in red, is shown crossing below its 200-day moving average, in green, on Tuesday. "This time around, the market [had] already declined well over 30% because everybody realized immediately instead of gradually … when the economy shut down that things were going to be really tough," Maley said.

 

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