SPX - Bear Market Confirmed

SmartReversals
04-07

$S&P 500(.SPX)$ - Bear Market Confirmed, something anticipated to subs on December 18th 2024 targeting $4,800 in the middle of the euphoria🎯.

Today the Return to the Bollinger Range is in play. The spinning candle below the band and oversold RSI suggest a comeback to the $5200 zone. ➡️Is the bottom in? not very likely, so the levels were updated last Saturday (access in bio).

$SPDR S&P 500 ETF Trust(SPY)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$

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Extreme Fear, and the Futures are Panicking

During 2022, extreme pessimism brought bear market rallies. However, in 2025 the bounces vanished quickly and the selloff continues. The current context can only be compared with the COVID Crash in 2020, the GFC in 2008, and 1987.

Institutions and retail traders capitulated on Friday, but the question is, when will Powell capitulate?

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