S&P 500 Cuts Through 50 & 200-Day Moving Average

| About: SPDR S&P (SPY)

Following Tuesday's Fed announcement, the S&P 500 rapidly fell through both its 50 and 200-day moving averages. Interestingly, this is only the 21st time the index has fallen through both moving averages on the same day.

Below we highlight the S&P 500 return following each of the prior occurrences. As the results illustrate, while the one day and one week returns are modestly positive, over the next two weeks and one month, returns have been negative.