
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.
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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.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily. 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.
