Nothing like a loud wake-up call first thing on a Monday morning.
This chart goes back to December, 2013 and shows the importance of the 150 day moving average.
The 150 dma (currently @ 2070.79) has been a rock for 3 years, but just in case it isn't this time, I think its time to play a little defense.
The failure of this line last October led to a nasty, sharp sell off (and subsequent recovery).
Traders who kept some powder dry and and bought at the well defined trend lines picked up some major alpha at year end.
If we break this line, traders will have some work to do to navigate this tape. Stay tuned.