328 Weekly Moving Average showing the SPY average position

This chart shows the moving average of the spy back to the beginning of 2015. It shows the SPY to be 56 points above moving average of the last 328 weeks. 2015,2016,2017,2018,2019, 2020, and 2021. The average position above the 328 weekly moving average is 67 points. These measurements were taken in the middle of May of each year. This chart shows that the statistical level above the 328 Week Moving Average should be around 368. Among the reasons for the abnormally high position of the SPY above the moving average was the introduction of liquidity by the Federal Government in the form of cash infusion via tax breaks, direct payments to individuals and businesses, and Expansionary Monetary Policy via Quantitive Easing(T notes, bonds, and MBA's). Purpose of this chart attempts to ascertain a plausible statistical bottom or turnaround point for the market.