SPX MONTHLY BACK TO 1929

SPX MONTHLY BACK TO 1929

Back in late December 2019, I posted the chart below to show that the US equities markets have a bull market/bear market cycle, and that the most recent bull market cycle had begun in 2009, and should run through 2032…

 

Link to larger chart:  Link 

 

To illustrate my take on the US equities markets below is the SPX monthly chart in log-scale with my momentum indicator line on the slow setting…

Note the relative position of the momentum indicator line off the top of the top of the gray zone support area AND in comparison to a bear market low, as in 1974 and 2009…

The equities markets don’t move upward or downward in straight lines, and that is the value of fractal and momentum analysis…

There are two momentum indicator supports just below – one the UTL and the other the DTL, I expect they will support the momentum indicator line as price corrects downward to the wave-y:2 low in the 2750-2800… watching.

 

Link to larger chart:  Link 

 

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