S&P 500 Now 2.9 Standard Deviations Below 50-Day Moving Average

Includes: IVV, SPY
by: TickerSense

With yesterday's additional 94 basis point decline, the S&P 500 now hangs 2.9 standard deviations below its 50-day moving average. This ranks as the third lowest reading since 2002. In the chart below, we highlight this and the two other occurrences during this bull market where the market reached a more oversold level.

oversold s&p 500