200-Day Moving Averages - Yardeni Research

Stock Market Indicators: 200-Day Moving Averages

Yardeni Research, Inc.

November 27, 2023

Dr. Ed Yardeni

516-972-7683 eyardeni@

Joe Abbott

jabbott@

Debbie Johnson

480-664-1333 djohnson@

Mali Quintana

480-664-1333 aquintana@

Please visit our sites at blog.

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Table Of Contents Table Of Contents

S&P 500 Moving Averages

1-5

S&P 500 Sectors Stock Price Index & 200-dma

6

S&P 500 Sectors Stock Price Index Versus 200-dma 7

200-Day Moving Averages

8-19

November 27, 2023 / 200-Day Moving Averages

Yardeni Research, Inc.



S&P 500 Moving Averages

Figure 1.

5500

5000 S&P 500 STOCK PRICE INDEX

4500

(ratio scale, daily)

4000

3500

3000

2500

2000

S&P 500 (4550.4)

1500

50-dma (4348.8)

200-dma (4285.0)

1000

11/27

5500 5000 4500 4000 3500

3000

2500

2000

1500



1000

-16.0% (70)

-9.8% -7.7% (28) (62)

-5.8% (19)

-12.4% (96)

-10.2% (13)

-6.8% (34)

-9.6% (21)

-25.4% (282)

-56.8% (517)

-19.4% -9.9% -5.8% (157) (60) (34)

-7.4% -13.3% (27) (100)

-19.8% -33.9%

(95)

(32)

-5.2% (32)

500

500

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Note: Corrections are declines of 10% or more, but less than 20%, while minor ones are 5%-10% (all in blue shades). Bear markets are declines of 20% or more (in red shades). Number of calendar days in parentheses. Source: Standard & Poor's.

Figure 2.

30

25

S&P 500 INDEX (as a percent of 200-day moving average)

20

30 Latest (6.2)

25

20

15

15

10

10

5

11/27 5

0

0



-5

-5

-10

-10

-15

-15

-20

-20

-25

-25

-30

-30

-35

-16.0%

-9.8% -7.7% -5.8% -12.4%

-10.2% -6.8% -9.6%

-25.4%

-35

(70)

(28) (62)

(19)

(96)

(13)

(34)

(21)

(282)

-40 -56.8%

-19.4% -9.9% -5.8%

-7.4% -13.3%

-19.8% -33.9%

-5.2%

-40

(517)

(157) (60) (34)

(27)

(100)

(95)

(33)

(32)

-45

-45

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Note: Corrections are declines of 10% or more, while minor ones are 5%-10% (all in blues shades). Bear markets are declines of 20% or more (in red shades). Number of calendar days in parentheses. Source: Standard & Poor's.

Page 1 / November 27, 2023 / 200-Day Moving Averages

Yardeni Research, Inc.



Figure 3.

5000

4500

S&P 500

4000 (ratio scale)

3500

3000

2500

2000

1500

S&P 500 Moving Averages

11/27

5000 4500 4000 3500 3000 2500

2000

1500

1000

S&P 500 Index (4550.43)

1000

50-day moving average (4346.76)

200-day moving average (4277.18)



500

500

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Source: Standard & Poor's.

Figure 4.

1300

1100

S&P 500 TRANSPORATION INDEX (ratio scale)

900

700

500

11/27

1300 1100 900 700

500

300

300

S&P 500 Transportation (923.88) 50-dma (903.20) 200-dma (942.58)



100

100

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Source: Standard & Poor's Corporation.

Page 2 / November 27, 2023 / 200-Day Moving Averages

Yardeni Research, Inc.



S&P 500 Moving Averages

38000 34000 30000

Figure 5.

DOW JONES INDUSTRIALS AVERAGE (ratio scale)

26000

22000

18000

14000

11/27

38000 34000 30000 26000 22000

18000

14000

10000

Dow Jones (35333.47) 50-day moving average (33899.84) 200-day moving average (33868.69)

10000

6000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Source: Haver Analytics.

6000

18000 16000 14000

Figure 6.

DOW JONES TRANSPORTATION AVERAGE (ratio scale)

12000

10000

8000

6000

11/27

18000 16000 14000 12000 10000

8000

6000

4000

4000

Dow Jones Transportation Average (14903.98)

50-day moving average (14675.22)

200-day moving average (14825.49)

2000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Source: Haver Analytics.

2000

Page 3 / November 27, 2023 / 200-Day Moving Averages

Yardeni Research, Inc.



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