I mentioned in a previous post that the 50sma has acted like a magnet over the past few weeks with price constantly swirling around it as profit-taking has been occurring just above: http://strawberryblondesmarketsummary.blogspot.com/2011/06/ym-es-nq-tfthe-attractor-factor.html.
This crossover is just another confirmation that the markets have been trendless since March of this year, and it remains to be seen as to whether this event has any meaning or not.