A close below the 50-day moving average...

Great opportunity to backtest what typically happens to the S&P 500 when it closes below the 50 day moving average. I am using Emini S&P Futures since 2013 in this example.

This has happened 94 independent times since the time series began. I’m calling it independent, because we are only looking the first time the close below the 50-day happens. It could…