Madrid
Short

In the brink of a new Bear Market

INDEX:SPX   S&P 500 Index
391 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.
15900 will be the top. Then turn over like a page working on K Street.
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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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