I posted an updated version of my long running chart of the S&P 500™ as of the cash close on Monday. Everyone seems to now be arguing the big sell off from last week was just a repositioning event and the worst is now over going into year end.
Maybe…
But there’s another text book possibility that may catch all the new euphoria with its pants down. So with that said, here’s that chart. It’s self explanatory. To wit:
As always, we shall see.
© 2026 Mark St. Cyr
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