The Bear Market Unfolds

 3/18/226

The hallmark of a bear market is the repetition of failed rallies. Each rally convinces bulls the bull market they enjoyed is still alive. But each rally disappoints only to bring the index lower. The SPX since its high  1/28 at 7,002 is a case in point. 

The  blue lines represent the short term rallies. The red line is the actual trend which is down. 

NDX

Of the three  INDU SPX NDX, the INDU is leading the way down, the NDX has yet to catch up. 

the high was 26,182 on October 29, above the upper blue line in a throw over.  The 24,425 close today is below the lower blue line, the market is playing with and testing lower support. It should give way shortly, and in a big way.

There is no panic among market experts writing about the current sell off. By the time tey come around, billions will have been lost. 

PSQ Bear NDX fund

PSQ peaked at the NDX bottom of Liberation Day, nice moniker Donald. It has formed a saucer shaped bottom. The MAs are converging singling a change in trend. The PAR SAR has given a buy signal, blue dots below the price.  Time to accumulate PSQ.
 

Silver

April silver closed at  $75.25. this might be a stopping point given the hard sell-off today. We shall see. ZSL is either at the end of an ABC up or in a third wave  of five. Tomorrow will tell. 

 

dennis.elam@att.net