Is The SP500 In A Bear Market Now? The Answer Is Very Clear!

FX:SPX500   S&P 500 Index
Bull Or Bear Market.....Now?

Does the future markets price action confirm a top in the SP500?
There are 2 different counts on the chart a red and a yellow.
Both are 5 waves sequences which could indicate further moves lower to come after a retrace.

The internal technicals for a top is confirmed and the odds has increased.
The SP             could have topped as an Ending Diagonal the 18th of may 2015.

But nothing is confirmed yet! Nothing!!!

Can SP             still make a HH..?. Yes but... but let the price recover first before consider the bull side.
Then let's look at a more bullish count.

We do simply not have the nail in the coffin confirmation before break of the white line.

So...! Nothing is settled and done with price action in the futures market !
And at the same time the futures markets action needs to be manifested in the SP             too before anything can be conclued.

I have posted a chart at gyazo showing possible Harmonic Patterns that can play out from $ES_F price action.

If you agree with my chart or just want to show appreciation - please click the thumbs up in top left corner of the chart.
I would really appreciate it!

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Notice if you adjusted your yellow trendline slilghtly for the 6/22 high you designate as a "c" the apex of that trendline is at the same point where price reversed. Before price was trading on top of the yellow trendline. But now price has broken through this and it looks like we will head back up to be topped by that trendline. 2160-80?
+1 Reply
WallStScalper BrianGoldman
Yes! You are absolutely right. I'm looking at many different counts that still can be made. One with top being in and this messy back and forth as a begin of 1-2 , 1-2 before a 3 wave down.

SP could also top here after making a x wave up. We still need more price action to determine.... one thing's for sure... market breadth is deteriorating slowly but surely....Thanks for comment Brian! Appreciated
Just follow the plan

+1 Reply
Yes I see a Bullish Gartley doing the pop up as showed on your chart
Latest update on my view of direction: https://twitter.com/BLawrenceM/status/615490607700684800

I'm sorry but it is not possible to link at chart from another platform into TW
Your count on the move off the ATH has wave iv overlapping wave 1. More likely, it's an ABC with a complex B as I show here. With 3 waves off the high, the odds are less that it's over.
WallStScalper FractalTrader
As I state above nothing is settled and done. If EU before market opens saying "We will have another round of talks" ...Futures markets price action will not even be showed on the SP chart... We could end up having a very bullish chart instead. Like this one... so NOTHING is confirmed only with a break of the white line
FractalTrader WallStScalper
well I must say, that was a good call. I was leaning toward one more pop, but it's looking pretty definitive that an impulse down is forming.
+1 Reply
WallStScalper FractalTrader
Thanks for your honesty and kind words!
Good lines B! Nice chart, very clear. BEARISH. I don't know Ivan, I am am also very bullish oil so I think the equity markets are in for a long fall. ES 2030 is coming quick. Maybe a retrace to 2087 first.
+1 Reply
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