Are You Watching the 200 Day Moving Average?

The 200 day moving average is about, let's call it, 200 and forty points away from last week. And i feel like when theres stress in the markets, that i've seen them play what i call moving average hopscotch. That's where everything is going just fine in a security and all of a sudden, all at once, it goes from the hies to the day,. The market has to say, wo what's going on here? Like, was that the end of the rally? Are we now going to waterfall? Or is this a place that i can stick some bids in and buy the market now?