SPDR S&P 500 (SPY)

[Perseverance71]

The chart and my sentiment remain bearish. The rally back to 200 stalled sharply and fell back into the 180's, which is not what I was expecting at the time. I thought we would continue upward but instead we dropped swiftly back down. Seems as if that rally was a dead cat bounce. Ever since that shooting star candle on 9/17 the chart is clearly bearish.

It looks like this 6 year bull run has finally hit a top. The economy is getting progressively worse and a new financial crisis looms. I don't think the Fed's bag of tricks and computer manipulation are capable of holding the market up any longer. I believe we are now in a bear market. From a purely charting perspective, if we were going to continue to make ath's we should be above 200 right now not where we're at. Spy has struggled to go anywhere the entire year. Based on all of that I'm staying bearish no matter what unless spy get's above and stays above the 200ma.