SP500 day with waves counting. A trend has ended when there are 5 waves to the top and then five waves down . After that comes three waves up only and then a new five waves comes on down side. Here you see that this could become the beginning of a bear market.

SP500 day dot close Friday











Other indications: The long bottom channel is broken. The 8 MA has turned down instead of crossing the 21 MA. 8, 21 and 34 MA:s are all down in the right order. Two important support lines has been taken out. However the monthly chart is unshaken with the 8 MA moving up. The weekly chart has three waves on downside and the 8 MA will turn down Monday but this could change if a strong rally starts. - It is going to be a new exiting week starting Monday at 00:00.