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Barchart
Barchart
Darin Newsom

Is the S&P Technically Not Bullish Now?

  • Technically, the S&P 500 fell to a new 4-week low this week, theoretically moving the Index into a secondary (intermediate-term) downtrend based on the Four-Week Rule. 

  • Seasonally, the Index tends to stay steady to strong during December meaning a secondary downtrend would be contra-seasonal indicating fundamentals are more bearish than usual.

     

  • One way of looking at fundamentals would be interest rates, with the Fed fund futures forward curve indicating additional rate cuts could be put on hold through early 2026. 

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