Replies to post #10712 on 123Tom's TA study group

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Weekly chart of the SPX

Here again, I can see that we are potentially getting close to a topping process, but the RSI is still breaking out over 70. The small red arrows indicate when the RSI struggled to go above 70 and then made lower highs.

As far as time from when the RSI first spiked to the market top again suggest we could be getting close, but could also have another year ish under it's belt

Then a 50% drop would basically fill almost all of the gaps left below from the March 2020 low.