2024-05-22 10:22:41 ET
Summary
- The secular bull market that started in 2009 is still ongoing, but the pace of the rally is threatened by a lower fiscal net-transfer rate.
- The current major up-leg suggests that the bull market is only halfway through, with a step-like pattern of major rallies lasting around 20 years.
- The fiscal-flows from the Federal Government spending are slowing down, which is concerning as the S&P 500 Index grows when the deficit gets bigger.
...under the surface there is one concerning development....
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SPX: The Long-Term Bull Market Is Still On, But... (Technical Analysis)