Bear market - cancelled
The SPX has breached the 3.5% barrier above the 200D MA that has held down every capitulation in SPX history (+/-).
Since this economy is similar to the 70's & the outlook doesn't appear much different, I'll use the 70's fractal to guide my decisions up to a 10% deviation.
Watch around the 4700 area for a small pullback, & then around the 5300 area for a larger pullback going into 2025.
Growth is likely to slow this decade, so this fractal sits well with me as I don't see this market going anywhere fast.
See '01 & '08 type beat below for more information on the 3.5% barrier / 200D MA I have been watching.
Since this economy is similar to the 70's & the outlook doesn't appear much different, I'll use the 70's fractal to guide my decisions up to a 10% deviation.
Watch around the 4700 area for a small pullback, & then around the 5300 area for a larger pullback going into 2025.
Growth is likely to slow this decade, so this fractal sits well with me as I don't see this market going anywhere fast.
See '01 & '08 type beat below for more information on the 3.5% barrier / 200D MA I have been watching.
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