If we take a look a the RSI on a monthly for the SPX 500 over the last 70 years we can see a pattern emerge , the RSI level 42.30 seems to be a very important level where many rally's have started.
Over the last 70 years price has bounced off this level 10 times including the last bounce in 2022 , once price bounces off this level it signals a multi month rally.
1949 1957 1962 1978 1982 1987 1990 2011 2020 2022
There have been only three times where SPX has bounced off this level and failed to rally .
1969 2001 2008
Its amazing how in 70 years we only had 13 of these signals fire off . This could very well be a once in a life time opportunity to get into the market .
The SPX 500 has a much higher probability to rally than not based the historical data on this chart. It is possible that we going into a decade long contraction , similar to 1950-1960 where you can get all time highs and rally's but then followed with years sideways accumulation.
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