I have gone back and forth on my position on where the markets are heading. Finding reasons to be both Bullish and Bearish. It is a fact FED is going to tighten monetary policy and reduce their buying spreadsheet. My initial thoughts on these last 2 months of red were the market's pricing in the anticipated FED withdrawal.
Then after today, we saw a break in S&P500 support and I have been reassessing since. This is when I happened upon this doozy of a chart.
It is important to note, Technical Analysis is not the end all be all when it comes to investing. It is simply one tool to use with many. Nonetheless, this chart is concerning, to say the least, and one day we might look back on it and think...
"How did we not see this coming?"