Spot the Bear. Weekly chart analysis of S&P500

Check this one out from page 2. Basically Naz is putting in a DT.

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Similar signals on ES/SPY that showed up at those other dates in the chart I posted the other day, but the market failed at the broken trendline resistance around 1947 (which falls in line with the symmetry to the other rallies in the prior days)...Here is a NYA daily chart in a declining channel with a logical spot to tag which fits with a scenario of a spike down to 1871 somewhat soon before a run higher...Note the NYA has spent three days, all lower closes, below that red line...not unlike what the Russell 2000 is also doing.
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As has been suggested elsewhere it's the case of longer term overbought vs short term oversold. Only sell major support levels once they cave in otherwise gotta sell weakening pa of rallies.
 
Russell has now officially broke the weekly/monthly H&S neckline. As far as I am concerned small caps are in official bear phase now. No predictions where it will stop.
 
All 10 below indexes display a failure swing. I would suggest to watch China as it's within 10% of it's 200 SMA and also very importantly 200 SMA currently is at 2610, which matches 50% retracement from the ATH of 5200. Let's see if there will be basing action near that level.

COMPQ further -10% to 200 SMA.

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NYSE trading 5% below 200 SMA. TICK

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SPX Further -5% to 200 SMA.

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RUT trading 5% below 200 SMA. TICK

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INDU further -1.5% to 200 SMA.

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WLSH further -3% to 200 SMA.

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DAX further -5% to 200 SMA.

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FTSE trading 9% below 200 SMA. TICK

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NIKK further -14% to 200 SMA.

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SSEC further -10% to 200 SMA.

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recession2016 said:
i think there will be a big bounce next week before more downside

expecting a bounce to 1980/2000 on s&p and up to 5000 on the nasdaq
More...

All weekly charts are bearish, I expect a washout in China, I doubt very much to see levels you speak of until China bottoms.
 
One more thing, 3 soldier pattern on most weekly charts, I trade this pattern via binary options on lower time frames with around 65% win rate.
 
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