As with my last chart with the Nasdaq, I believe we will see the same with the S&P. The market is struggling to gain momentum and even experts on CNBC/Bloomberg are finding it hard to encourage investors to "buy the dip" because they too are uncertain. If we compare the reasons for a correction vs continuation of a bull market it goes as follows:
Bear Market:
- Fed Interest Rate Hikes
- Fed Tapering (2013 Taper Tantrum, example)
- Inflation
- MACD Crossed
- RSI
Bull Market:
- Low Unemployment
- Retail is Healthy
- $2 Trillion in Savings/Checking in US.