Madrid
Short

In the brink of a new Bear Market

INDEX:SPX   S&P 500 Index
390 2 4
In the monthly chart a channel can be spotted with an upper channel line at the peak of both bull markets (2000 and 2013) This last Bull Market was overextended and the possibilities to gain momentum to break the channel are very slim if there is not a correction.
In the Stochastic RSI it can be seen the overbought status and the loss of momentum , which are bearish signs.

Related Ideas

carrytrade
2 years ago
You m ean Market overbought :)

1 more test of December monthly close is possible (or even a fresh high)

But then I also see a correction of 10-20%.
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15900 will be the top. Then turn over like a page working on K Street.
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