I believe we topped out on this current uptrend last Wednesday (11/26).
The uptrend, started back near October 13, when we bottomed. Some of you remember that morning, when the Dow went down -460 points and then spent the rest of the day recouping all those loses.
Since then, most of the indexes have risen to new highs again,except for the Russell 2000 and the NYSE Composite. Both of those indexes have not created new highs and both have created "Death Crosses" that say they have entered a new "bear market".
A stock market "Death Cross" is when a stock market index has its 200-day moving average crossed over by its 50 day moving average.That means that the index has entered into a "bear market".
I have been watching those two indexes very closely for clues as to when they might top and when they might lead the way down.
Based on my charts, I have seen tops with Elliott Wave sub wave countsat 19 or 21. Last Wednesday (11/26) I completed sub wave-19 and Friday (11/28) most of the indexes started heading down. Interesting that on that day the NYSE Composite was about 92 points down and the Russell 2000 was down about 17 points. So both of those indexes were down stronger than the other indexes.
Today, Monday (12/01) we are down strong for all the indexes and in my opinion starting a new down trend and/or the new bear market.
Exciting times!
Happy Trading