Prior to this past week, everytime we touch the 50 EMA on the daily we immediately bounce off of it. After knocking on the door a few times, this most recent dip to the 50 EMA was not met with an immediate bounce. Hugging the 50 EMA like we have been all week suggests that it is about to give way and the S&P should fall further, aiming for the 100 daily EMA next.