goodguy

S&P 500: looking Like the bear is waiting at the door.

SP:SPX   S&P 500 Index
Like the last 2 major tops we now have:
1. Long term up trend line broken.
2. Most recent monthly low taken out.
3. Bearish divergence in Monthly RSI.
Also in the current bull run (labeled 1-5) wave 5 = 1.62 X 1. Wave 1 and 5 often have a fib relationship. So when current up correction is over would not be surprised to see start of Bear market.

Take care. Feedback always appreciated.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.