Bear Market - Evidence

Short

SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)

AMEX:XLE SPDR Select Sector Fund - Energy Select Sector

trendline triangle elliottwaves elliotwaveanalysis bearish descendingtriangle xle spy qqq

This descending triangle in the most "bullish" of sectors - energy - seems to prove that we are in a bear market. The descending triangle seems to trade with a bearish elliot wave pattern for descending triangles as evidenced here:

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