[isatrader]

The S&P 1500 closed the week below the visual support, and with a declining 30 week MA, and so can officially be said to be in Stage 4 now imo, although we've known that for a while on here from the market breadth weight of evidence. So it will be interesting to see where it goes next, as could easily continue lower, or maybe even a rally for six months in the new year to form a right shoulder on the chart pattern, as there's a very clear left shoulder and a head pattern. Or we may be near to a bottom and start to form a Stage 1 base etc. Whatever happens, the Weight of Evidence will guide us and give clues as to what strategies to use.

   

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Here's the weekly overview charts of the US Bullish Percent and Moving Average Breadth.