March confirmed February

The SPX saw a net March decline of -369pts (12.5%) to 2584.

Summary

February saw a hyper bearish engulfing candle, and that was fully confirmed, with the SPX imploding to 2191. Despite a recovery to 2641, and settling at 2584, monthly momentum is accelerating to the downward side.

At the current rate, MARCON 5 will occur June/July.
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*I'm often overloaded, and this MARCON page has been one of the last things on my to-do list.

Pushing upward

spx, m9 (linear scale)

Summary

Suffice to note, monthly price momentum turned positive in September, and looks set to carry through into early 2020.

Leaning weak

October saw the sp'500 settle under the key 10MA for the first time since Feb'2016. Monthly price momentum has turned negative, and increasingly favoured the bears in November.

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*An overly late update....

Suffice to add, with the macd (blue bar histogram) turning negative in October, we're at MARCON 6. For 5 or lower, we need to see the black macd line cross below the zero threshold. That looks possible no earlier than mid 2019.