Two outliers were:

1. During The Great Depression, when in 1932, after taking 525 days to recover to the 200MA (!), the $SPX ROR six months later was -10.7%

2. 2002, after a 314 day recovery to the 200MA, the market was down -16.7% six months later, and down -20.8% 1 year later https://t.co/6hdbuxmaxD