Is the S&P 500 Downtrend Inequity?

The S&P 500 is now a little bit above the 200 day moving average for the first time in over a week. The NASDAQ has not broached the 200-day moving average and you still have a pretty downwardly sloping 200 days moving average this looks actually worse than the S&P but could you take a peek at the August highs? I'm hard pressed to figure out how we get there maybe it's in the form of Microsoft surprising some people to the upside or Amazon finally getting back on trajectory higher. If rates start going back higher from here the dollar will follow as well, he says.