By Graham Summers, MBA
Judging from last week, the bear market rally ended right at the 200-day moving average (DMA) for the S&P 500.
![Chart
Description automatically generated](https://gainspainscapital.com/wp-content/uploads/2022/08/GPC82222.png)
This was right where market leaders such as Tesla (TSLA) had suggested we’d see a top. Indeed, one of the first signs that the market would be topping out was the fact TSLA struggled to remain above its 200-DMA once it initially broke above that line in mid-July.
![Chart, histogram
Description automatically generated](https://gainspainscapital.com/wp-content/uploads/2022/08/GPC822222.png)
So where do we go from here?
High yield credit, which leads stocks, suggests the S&P 500 is going to 4,100 in the near-term.
![Chart, line chart
Description automatically generated](https://gainspainscapital.com/wp-content/uploads/2022/08/GPC822223.png)
It’s a similar story for breadth, which also leads stocks.
![Chart
Description automatically generated](https://gainspainscapital.com/wp-content/uploads/2022/08/GPC822224real.png)
However, if the S&P 500 cannot maintain support (green line in the chart below) around 4,100, things could get UGLY fast.
![Chart, histogram
Description automatically generated](https://gainspainscapital.com/wp-content/uploads/2022/08/GPC822225.png)
For those looking to prepare and profit from this mess, our Stock Market Crash Survival Guide can show you how.
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As I write this there are 39 left.
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