SPX S&P 500 Monthly Chart; Battle at 12-Month MA at 4038 Determines if Cyclical Bear Market Ends and Cyclical Bull Begins

The battle between bulls and bears continues at the SPX 12-mth MA at 4038. Price is at 4038.

If the SPX trends above 4038 heading higher, the bulls will have a few more weeks of fun.

If the SPX is spanked down from 4038, stocks will become soggy and weak. If 3955 fails, Katy bar the door, stocks will begin falling like rocks.

The SPX weekly chart hints at choppy action for a few weeks with additional highs coming in the SPX, on the weekly basis, with a potential significant top in late February early March. 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.

Note Added 12:10 PM EST: SPX recovers to 4045 now 7 points above the bull/bear line in the sand. Traders know that stocks are typically bullish going into the Fed decisions so some are likely wanting to front-run the action. On the SPX 2-hour chart, the stochastics and MACD line are weak and bleak (sloping lower) so there is likely a lower low in price ahead this afternoon.

Note Added Tuesday Morning, 1/31/23, at 9:00 AM EST: SPX drops to 4018 in the Monday session. Bears cheer.

Note Added Tuesday at Munch Time, 1/31/23, at 12:00 PM EST: SPX pops to 4044. Bulls cheer.