Major bear break under 3920
If the market can re-take this level, the downtrend case is very strong.
A breaking of 3920 may become the actionable break that takes us down to the 2000s in SPX. A break here could start a sequence of events that would not see the selling stop until we’re under the March 2020 lows. Fierce bounces on the way, but a solid downtrend.
Keep reading with a 7-day free trial
Subscribe to Market Forecasts and Trade Plans to keep reading this post and get 7 days of free access to the full post archives.