Huntz

It's time to ZOOM OUT and get REAL

AMEX:SPY   SPDR S&P 500 ETF TRUST
Please have a look at this chart. Scroll all the way back to 1999.

At present day we are very far above the 50d moving average. It's frightening how high we are.

Bearish divergence from Jan 2020 to present day.

Bearish divergence in 2018, leading to a 20% retracement.

Bearish divergence in 2007, leading to the global financial crisis.

Bearish divergence in 1999, leading to the tech/telecom bust.

History will repeat itself, I think. We are currently in a very worrying position. Look at what these bearish divergences have shown in the past. To return to 50d MA levels would mean a 13% correction for S&P 500 . If we fall below that, we should start considering a full blown crash/bear market.