Replies to post #5183 on E-Wave for the S&P 500 Index

[JLS]

Been waiting for our Inverted yield curve ...

to produce what it's famous for -- being a reputable forward indicator of a significant stock market decline. The current inverted yield curve is a whopper but nothing's happened ... yet.

The tone of the news I've been reading is changing: Just read, "Expectations are for earnings to decline for a third straight quarter. Consensus estimates project a decline of about 7% in earnings per share among S&P 500 companies compared to the same quarter last year, which would mark the steepest decline since 2020, per UBS."

[RCKS]

"...so it's about "do or die" time for the bears. Trade safe."

http://www.pretzelcharts.com/

"So far, nothing much seems to be going for bears, as every decline is bought like it's still 2020 and the market is expecting massive inflation from all the "stimulus." On Monday, I noted that there was not yet a confirmative impulsive decline, and the market never formed one (and apparently never will again lol).

NYA continues to edge toward its key zone:"



"COMPQ is still in "back-test" territory"



"And SPX is adding that "next wave up." Whether it will end there or if that will only end up being the midpoint on a larger bull(ish) wave remains to be seen:"



"In conclusion, still watching NYA as the most significant of the current hurdles, so it's about "do or die" time for the bears. Trade safe."