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In the context of the S&P 500 index, "20" typically refers to the 20-day moving average, which is a technical analysis indicator used to smooth out price fluctuations and identify trends. It helps traders and investors gauge the short-term momentum of stocks within the index. A rise above or fall below this average can signal potential buying or selling opportunities. However, the specific meaning can vary depending on the context in which "20" is used.

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