Dave Keller walks through the recent fall in the S&P 500. The index slid below important support lines, such as the 200‑day moving average. This move shows the market has turned clearly bearish.
He shows how momentum shifted from neutral to negative. Using the RSI and simple trend models, he measures how strong the downtrend is.
Next, Dave points to possible lower price targets with Fibonacci levels. He highlights a key support zone near 6,150 – 6,200.
He also checks volume and breadth tools. These include Chaikin Money Flow, the McClellan Oscillator, the percentage of stocks above their 50‑day average, and the Nasdaq‑100 bullish‑percent index. Together, they help spot signs of a short‑term bounce while the market stays in a broader distribution phase.
The video was released on March 30, 2026.
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