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Dr_Roboto

S&P confirmed new down channel? Still Bear market?

S&P 500 Index (OANDA:SPX500USD)  
Dr_Roboto Updated   
OANDA:SPX500USD   S&P 500 Index
Trend Analysis Technical Indicators Wave Analysis SPX (S&P 500 Index) SPDR S&P 500 ETF (SPY) IVV S&P 500 (SPX500)
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trendanalysis indicator waveanalysis spx spy ivv spx500
What I see is that the S&P has confirmed a new down channel (red) with Thursday's (2/2) peak after it broke out of the orange down channel made from the tops in March and August 2022. This new red channel is created with the two lows from June and October 2022 and the price action from May 21. If this holds, then bear market is still intact and price will fall. I would expect a test of the December lows and if not the October lows.

snapshot
Comment:
Not a great start to Friday morning.
snapshot

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