an tSionna 5.26.09 S&P 50 & 200 Moving Averages

Here's a longer term chart of the S&P 500 represented above by one of its ETFs the SPY. You can double click on it to make it larger. Notice 3 things:

1. S&P trading above its 50 day moving average. {Green Line}

2. 200 day moving average {Red Line} has declined to the point that it has now become a legitimate focus of resistance. It has also flattened out and is not declining at this time.

3. Distance between the two moving averages has narrowed, making the likelihood of a positive (golden) cross possible sometime later this summer.

*Long SPY and other ETFs related to the S&P 500.