FX:SPX500 S&P 500 index of US listed shares
There will be some healthy retracements in there as happened in 2001 and 2008, but yes, generally down for some time. The first really healthy retracementment should begin in the 1750~1800 area. I'm convinced that the ATHs made this summer will not be challenged for a long, long time. Bottom trend on this chart is broadening as well.