This chart looks at the New York Stock Exchange Index (NYSE) over the past couple of years.
Since the election in the fall of 2016, the index has spent most of the past couple of years inside of rising channel (1) as the trend remains up.
The recent weakness now has it below its 200- and 100-day moving averages at (2), as it tests “key support “ at the bottom of rising channel (1) at (3).
Stock-market bulls will worry if the rising channel support breaks and the 100-day moving average crosses below the 200-day moving average at (3).