(8/17/22) S&P 500 Update - End of the rally soon?

The S&P 500 has been rallying for over a month now. This rally was not unforeseen. The market had fallen very deep and a correction was overdue. However, we are currently approaching the 200-Day Moving Average and a key Resistance Zone. This is likely where we will start to see things slow down and likely where this rally ends. If buyers hold up, then it is likely to stay SIDEWAYS in a range between 4200 - 4400. If not, then it will likely begin the next move DOWN to a new low.

*** 2022 is a BEAR market. I don't believe we've seen the bottom yet. Every rally will likely end in a bull trap and push back down further. When conditions change, then we will know that a bottom is in. Conditions have not changed yet. I will update when they do.

*** In 2021, we had an insane market rally. This was largely due to money printing, Stimulus checks, not having to pay rent/mortgage, PPP loans, Student Loan forbearance, low-interest rates, etc. These were all unsustainable situations. This year, we are in a total opposite scenario. 2021's major theme was "To The Moon"... but 2022's major theme will be "Back To Earth". Safe trading & safe investing!