#SP500 [2W] Update: The index has reached the Cup & Handle target drawn in 2023. It is currently distributing along the 100-year yellow trend line, which connects the 1929 and 2000 tops—both of which were followed by major recessions. With stocks highly overbought, gold blowing off and the yield spread beginning to widen after a prolonged inversion, conditions point toward a significant recession.(Gert van Lagen)