New signs suggest a major bear market has begun

From Gold Scents:
The recent market action has me wondering if the next leg down in the cyclical bear market has begun.

I always expected that we would see a very convincing rally out of the October yearly cycle low. I thought it even possible that we would test the 200-day moving average. Most bear markets do rally out of the initial leg down and test the 200-day moving average. 

Recently, the S&P made two attempts to close and hold above the 200-day moving average. They both failed. That was a loudly ringing warning bell...

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