SPX S&P 500 Daily Chart Moving Averages 150-Day MA Negative Slope Signals Cyclical Bear Market

The moving averages are lining out sideways for the SPX daily chart indicating a continuation of the sideways choppiness. Price is at 2061 held down by the 200-day MA resistance at 2061. The 50-day MA is at 2064. On the underside, the 20, 150 and 100-day MA's serve as support.

The slope of the 150-day MA (pink) remains negative (red box) signaling that the stock market remains in a cyclical bear market pattern since late August. Market bulls need to curl the 150-day MA upwards to prove that stocks can move higher in 2016. If the 150-day MA continues to slope negative, stocks will slide down the rabbit hole.

The pivot from 2061 to begin the last trading week of the year will either send price higher to the 50 at 2064 or lower to the 20 at 2056. S&P futures are -10 about 30 minutes before the opening bell for Monday which sets up a potential test of the 150-day MA at 2050.

The 12-month MA is at 2053; this is a critical cyclical market signal. If 2053 is lost, markets will fall down the rabbit hole and the 150-day MA at 2050 would be expected to fail quickly. So there is a major test that will occur at 2050-2053 after the opening bell. Will the year go out with a bang or a whimper? This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.