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The Stock Market Just Broke Below A Critical Trend Line That Everyone On Wall Street Is Watching

Matthew BoeslerOct 8, 2013, 22:12 IST

Earlier, we highlighted a note from Miller Tabak chief technical market analyst Jonathan Krinsky, who said the S&P 500 was at a "critical juncture."

The index was at risk of breaking below a long-term trend line. With today's declines, it has now fallen below that line.

ED&F Man Capital managing director Tom di Galoma alerted us to this in an email.

Check out the chart below.

Business Insider/Matthew Boesler, data from Bloomberg