S&P 500 is within 2% of its high while >74% of its stocks are below 50D MA and >52% are below 200D MA, i.e., the majority of its constituents are in downtrends.
Similar conditions occurred in Sep'1972, Mar'2000, and May'2023. The first two cases preceded significant bear markets, while the latter was followed by a bull market continuation.
What will happen this time?
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