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S&P 500 Bear Cycle Remains In Play

  • The slope of the MA study is negative.
  • This highlights a bear cycle that suggest the index remains in a downtrend.
  • A “sell-zone” references an area of resistance and specifically price levels above the 200-day EMA when the trend condition is bearish.
  • A resumption of weakness from levels above the MA study signals the start of a phase of the downtrend and the likelihood of fresh trend lows further out.
  • While the MA slope is negative, gains are considered corrective.
  • The red MA line is the 200-day EMA.

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