The Long-Term Perspective

Here is a 5-year chart of the SPYs, QQQQs and IWNs in a weekly format. Notice three things.

1.) We are still in an uptrend.

2.) Just eyeballing the charts, we would have to move at least 5% more to the downside before we moved into secular bear market territory.

3.) Volume really spiked last week. That could indicate the beginning of at least a short-term correction.