In this video, Peter Schiff is arguing that the break of the trendline on the S&P 500 is signalling an end to the upwards trend. Even though the market has rallied since breaking the trendline on August 21, this rally is not enough to re-instate the trend; note how the market is still below that trendline. This trendline break, as well as market internals such as the falling ratio of stocks that are advancing relative to those that are declining, make a technical case for the further decline in stock prices.
Peter Schiff on the Break of the Trendline in the S&P 500
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