Rejected at the 200-day
The S&P 500 traded above its widely-watched 200-day average for the first time in months but wasn't able to hold above it. Since 1962, there have been 11 times it exceeded its average on an intraday basis for the first time in at least a month but wasn't able to close above it. A week later, the S&P showed a gain only 3 times and two weeks later 5 times. The dates were 1966-12-13, 1968-04-01, 1969-03-27, 1969-10-22, 1970-09-04, 1973-09-27, 1975-01-28, 1977-06-24, 1980-05-06, 1982-05-07, and 2008-05-19.