How ETFs crushed Wall Street's favorite stock-market indicator

Core Viewpoint - The S&P 500's 200-day moving average has lost its reliability as a bear-market signal due to widespread use by investors as a market-timing indicator [1][2]. Group 1 - The S&P 500 recently broke below its 200-day moving average, which traditionally indicated a bearish market [2]. - Analysts are now suggesting that this break should be interpreted as a bullish signal, contrary to previous beliefs [2]. - The phenomenon is attributed to the success of the 200-day moving average as a widely adopted market indicator, leading to its diminished effectiveness [1].