Getting and staying above the MA is the minimum
As per an earlier post, the S&P is down testing its 50 hour moving average at 2412.11. The price has quickly moved up to a high of 2415.73 and backed off a bit. It will take a move above that MA level - and staying above - to give buyers more confidence. So far, sellers are balancing the market near the level.
PS. the S&P is now corrected 10.21% from the low reached just yesterday
PSS. The 100 hour MA (blue line) would be a 19.67% increase from the low (at current levels)
