Markets are looking ahead to Friday’s June employment report, and there is little optimism the number will show anything more than a slight gain.

In Tuesday’s market mayhem, the 200-day moving average on the S&P 500 turned negative for the first time since last year, an ill omen to some. However, Birinyi Associates took a look at the occurrences of the 200-day turning negative since 1945, and found that it’s mostly preceded positive stock market moves in the next week, the next month, the next three months, and even the next year.

In Tuesday’s market mayhem, the 200-day moving average on the S&P 500 turned negative for the first time since last year, an ill omen to some. However, Birinyi Associates took a look at the occurrences of the 200-day turning negative since 1945, and found that it’s mostly preceded positive stock market moves in the next week, the next month, the next three months, and even the next year.