Full Disclosure: In general I am Bearish on the long term of the market
I mentioned before that the previous times the MACD had a negative cross on the Monthly chart, a significant overall market drop followed.
This cross occurred a few months ago.
I was looking back at the chart for perspective and realized that the 50 period MA is getting close to crossing downward through the 200 period MA on the Monthly chart.
It is a negative event when it occurs on the Daily charts so I am assuming this to be a very negative event for long term when it occurs on the Monthly chart.
Most, if not all, of you are better chartists and technicians than I am.
If anyone here has any views on this I would love to hear them.
I've only posted a few times and have gained a lot from Cobra and all of the regular posters.
Thanks and Happy (and Prosperous) New Year to all.
Chart link
http://stockcharts.com/h-sc/ui?s=$SPX&p ... 8194768096