Bloomberg: the notable technical move was the S&P 500 breaking below its very short 20-dma. But when that happened in May and June, the bulls were back in charge in short . With the S&P 500 holding onto the 3,000 level and remaining above the 50-dma, the bears don’t have a toe-hold to work from yet. That can change quickly, of course, but it pays to let the market come to you.