The S&P index opened lower in early U.S. trading, weighed down by mounting concerns around corporate earnings, tariffs, and inflation. A weaker-than-expected Richmond Fed index added to the unease. While the broader trend has been decisively higher, there's a growing sense that the market may be overbought. That said, in trending markets, prices often extend beyond what feels rational, and calling a top prematurely can be costly. Instead, it’s better to wait for the market to provide technical reasons to sell — and that's where moving averages come into play.Today’s dip found buyers near the 50-hour moving average, a level that has played an important role in recent price action. Last Monday, the index stalled at the 50-hour MA before breaking higher on Tuesday. On Wednesday, it briefly fell below both the 50-hour and 100-hour MAs on the back of the "Powell is fired" headlines, only to reverse quickly and reclaim the 50-hour MA as support. That support held through the weekend and into this week’s push to a new record close yesterday.However, there was some profit-taking into yesterday’s close and early today, but once again, the dip found support at the 50-hour MA, keeping buyers in control. For sellers to regain the upper hand, they will need to break and stay below this moving average, currently near 6305.60, and ideally also the 100-hour MA, which sits lower at 6257.40.If those levels give way, the next downside target comes in around 6200. But as long as the price stays above the moving averages, the bullish trend remains intact and sellers are failing to prove they can shift the momentum.Bottom line: Traders should watch for a confirmed technical break below key moving averages to signal a potential shift. Until then, the buyers are still in control. This article was written by Greg Michalowski at investinglive.com.