The S&P 500 broke primary support at 4170 to confirm a bear market. A Trend Index peak at zero warns of strong selling pressure.
The Nasdaq 100 similarly broke support at 13K, confirming the bear market.
Dow Jones Industrial Average, already in a primary down-trend, confirmed the bear market with a break below 32.5K.
The Transportation Average lags slightly, testing primary support at 14.5K. Follow-through below 14K would be the final nail in the coffin.
A plunging Freightwaves National Truckload Index warns that we should not have long to wait.
Conclusion
All major US stock market indices now warn of a bear market. Weak retracement, to test new resistance levels, should not be confused with a buy-the-dip opportunity.
