There is one school of thought that we aren't in a recession yet given the job numbers, earnings, and price action. I saw the 3 month hasn't crossed on the yield curve yet as well, another part of the signal that is needed for confirmation. 

    Price and time currently indicate we never had a bear market and that this is still a topping process. If that is the case, we could test the old highs or even make new highs before things really come down longer term. I know it sounds crazy, though 3,600s sounded crazy at the beginning of the year to most as well. 

    Where we currently are is the last wave made a high at 4,168 on SPX. And that is the high until it isn't. Markets are overbought, so the bears need to get moving here now. There are 6 gaps below to go after. Their showing has been pretty weak lately not even being able to push SPX below the 9 day for a reversion to mean on the longer term. Maybe the time is finally here to try. 

    Strange market to say the least, check out the recent Fear/Greed:


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