S&P 50 Day Moving Average Being Tested Today

The 50 day moving average is considered by many to be the leading indicator of direction and as such is often involved in trend change.  Today the 50 day on the S&P is 1433 and the market is trading at 1431.  Being a leading indicator is often a state that gives a number of false signals.  So be aware as the market’s underlying belief is in Ben, not the 50 day ave.