In the 4 year history of this current bull market, the rising 80 week moving average has supported every downturn in the SPX on a weekly candle closing basis. The 80 week moving average is also the equivilent time frame of the more significant 20 month moving average (unfortunately stockcharts.com doesn't have the monthly candle time frame, otherwise I would attach it). In the last few decades every bull market decline has been supported by the rising 20 month moving average (on a monthly closing basis) and every bear market rally has been contained by the declining 20 month average. The short and long of what I am saying is, the rising 80 week moving average and rising 20 month moving average, need to support this pullback (on a closing candle basis). Jeff