SPX - A bear market rally is more likely to happen
$S&P 500(.SPX)$ The loss of the 40 weekly average has proven to be a major signal anticipating a major correction.
Since the signal has been more than confirmed, now it's worth watching the Average True Range, which has reached extreme overbought levels compared to bear market bottoms in 2008, 2018, and 2020. For 2022 it preceded a bear market rally starting in June of that year.
Is a bear market rally coming? or is the bottom in and a V shaped Trump style will happen again?
Until proven otherwise, a bear market rally is more likely to happen, setting lower highs.
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