SP500 month 1995 - 2015. If you wonder why 8 and 21 MA are so important look what happened 2000 and 2008. A cross on downside becomes a bear market and on upside a bull market, Very easy for long term investors. FTSE has got a cross now and the other indexes will follow within six months.

Month. Also note that the bottom of the chart 1995 SPX was at 500 a Fibonacci number 5. Next Fib number is 8 or 800 , see the lines. The third Fib is 13 or 1.300 the fourth Fib is 21 or 2.100 which was the top 2015. So  1995 - 2015 is 20 years. Normally one Fib takes 5 years. 2009 - 2015 is six years, the current bull market has risen from 800 via 1.300 to 2.100 which is two Fib numbers. The trend has gone 4 years to fast and cannot hold 2.100. The correction should then retest 1.300. On its way down there are strong support at 1.800 and 1.600.