SPDR S&P 500 (SPY)

[jetlagsyndrome1]

If I get you correctly ... On one side you're saying the following affect(ed) the stock prices in '20-'21: the Fed pumping actions, the Gov stimulus plan, the resulting inflation.

And on the other, that we will return to ma(200) because we visited that level every +-2 years.

So
. will the above factors stop to influence the market, or do you assume some of the factors will disappear?

. the ma200 is a rolling average - i.e. if the price flattens or slightly drops, even for an extended period, ma200 continue to raise. How fast ma200 will turn, it all depends on the magnitude of said changes.

But in any case - the level where sp500 eventually meets ma200, wouldn't that be different of the ma200 level of today?