• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Is the Bear Back?
Stock

Is the Bear Back?

by October 27, 2023
by October 27, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The S&P 500 (SPY) has fallen about 10 percent from the July top, and the last two weeks has been pretty rough, so should we be looking for the Bear to take charge again? First, looking at a weekly chart, it is not clear that the Bear actually left town. In spite of a great rally off the October 2022 low, the market top in July never actually exceed the January 2022 all-time high, so the current decline could be the next down leg of an ongoing bear market.

This next chart shows some of the best breadth indicators available. The Silver Cross Index (SCI) is an intermediate-term indicator that shows the percentage of stocks in the S&P 500 Index that have their 20-day EMA above their 50-day EMA. Currently that number is only 19%, meaning that 81% are in a negative configuration. The Golden Cross Index (GCI) is a long-term indicator that shows the percentage of stocks with their 50-day EMA above their 200-day EMA (commonly called a Golden Cross). That number is 44%, which on this indicator signifies a bear market.

A minor, but maybe important, feature at the lower right corner of this chart may be the two rising dotted green lines drawn under the % SPX Stocks > 20EMA and % SPX Stocks > 50EMA which represent a positive divergence against price. These may be a hint that a bounce is in the cards.

Conclusion: Is the Bear back in town? Considering the lower long-term price top, it is not clear that he actually left. The fact that only 19% of S&P 500 stocks are positively configured (20-EMA above the 50-EMA) in the intermediate-term, the internals do not encourage positive thinking. The best thing we can say at this point is that the SCI is very oversold, and that offers hope of an upside reaction.

Learn more about DecisionPoint.com:

Watch the latest episode of DecisionPoint on StockCharts TV’s YouTube channel here!

Try us out for two weeks with a trial subscription!

Use coupon code: DPTRIAL2 at checkout!

Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

(c) Copyright 2023 DecisionPoint.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Helpful DecisionPoint Links:

DecisionPoint Alert Chart List

DecisionPoint Golden Cross/Silver Cross Index Chart List

DecisionPoint Sector Chart List

DecisionPoint Chart Gallery

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

You Might Also Like
  • More from Mish’s Outlook 2024 — Gold and Silver
  • Coinbase Stock Didn’t Crash, But the Trade Still Raked in Cash
  • Week Ahead: These Two Factors Delay Breakout For NIFTY; Stay Selective And Watch These Sectors
  • Your Burning Questions, Answered: FATE of TESLA & Bullish Bias Solutions!
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Republican presidential candidate suspends campaign, endorses Donald Trump
next post
Late-Hour Selloff Confirms Downtrend Phase!

You may also like

Key Support Levels Broken, BUT Breadth is Bullish!

March 14, 2024

Ignore The Naysayers, This Market Is On FIRE!!!

March 17, 2024

Why is S&P 4400 So Important Right Now?

November 11, 2023

Broad-Based Rally Puts Markets in Bullish Position

June 2, 2023

Week Ahead: NIFTY May Take A Breather And Consolidate; Pick...

July 8, 2023

Week Ahead: NIFTY Stays Vulnerable To Disruption Of Primary Trend;...

May 4, 2024

Bristol Myers Squibb’s Rising SCTR Score: Seize the Moment to...

February 28, 2025

MEM TV: NVIDA is Setting Up To SURGE

May 4, 2024

This Is The Only Segment Of The Market Worth Paying...

September 18, 2023

Top 10 Stocks to Watch in July 2023, Part 2

July 4, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,630 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Is It Game Over for Growth...

    July 20, 2024

    Bullish or Bearish? The Truth About...

    September 21, 2024

    Does “NoGo” for the S&P =...

    August 17, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here