Currently, the S & P 500 just endured four 1% declines in a month for the first time since last October (5).
The index's 20-day moving average has undercut the 50-day moving average for the first time since November, and there's a noticeable potential three-month topping pattern in play, as well.
The 20-day moving average just crossed above the 50-day moving average, and both lines have started to curl higher.
To drive this point home further, the upside-down version of the current S & P 500 looks a lot like… the S & P 500 (right-side-up) from last fall, as the index was coming back from the August-October correction.
Here's a picture of the biggest bullish pattern from 2023, which was triggered soon after the 20-day moving average crossed over the 50-day moving average.
Persons:
permabears, permabulls, it's, Frank Cappelleri