I prefer to use a PPO over a MACD on the monthly time frame but even then, I am also showing that the $SPX had a bearish crossover on the monthly PPO as of end of October (and currently the PPO histogram has fallen even more below the zero line although November is just getting started). Certainly, no way to spin that but bearish although the monthly PPO & the MACD are prone to occasional whipsaw signals but taken in context with all of the other technical developments that I am seeing recently, I would say that there is a good chance that the month PPO & MACD bearish crossover are signaling the beginning of a much larger correction or bear market.

May I have your comments on it.