Is a bear market on the way? My research suggests the downward sloping trend line (in the Daily/Weekly SPY chart) may continue to act as solid resistance – possibly prompting a further breakdown in the markets for US major indexes.
As we’ve seen recently, news and other unexpected events prompt very large price volatility events in the US major indexes. For example, the VIX recently rose above 30 again, which shows volatility levels are currently 3x higher than normal levels.
The post S&P 500 At Tipping Point To Start A Bear Market And What You Need To See originally appeared at TheTechnicalTraders.com.