Steve Miller on $RSP (Nov 7, 2026)

Okay, the stock market. We will take a look at the S&P 500, Nasdaq, RSP, and VIX indices.

RSP is the green color here, and it is the equal weight. You can see that the RSP cycle line here is pointing to a new high this week, because that's what happened, while the S&P 500 was moving downwards.

This is the Equal Weight Index, and I will show it to you in a minute. What that tells me is that it is very likely, and you can see the equal weight or the actual cycle moving upwards to a new record high and then falling back down.

This is consistent with the RSP indicator there, that green arc of the cycle. Therefore, this suggests a decline until December, and possibly again until April. There is that bear market that we are watching from afar, because it is that larger dominant pattern that aligns with the RSP indicator.

Let's take a look at the RSP indicator. RSP here is the isoweighted index. He was extremely strong. We said last week that we thought, I mean look at the great rhythms that are here, that it was likely, given that the situation was taking shape upwards and the momentum was strong, that we would see the market reach a new record high.

He actually did that after the election. He reached that level and then this failure happened there.

This is a pattern of misfortune if it ends like this this week. This really looks like a double peak to me. We can expect the momentum to begin to reverse. When you break the low of the cycle and look at all the time left here, it warns you that if the stock market tries to rise in the next week or two, it is likely to fail. This is a bad thing to look at.

The most sensitive to all of this is the reflection detector, which remains positive. Therefore, the RSP indicator gives us peak indicators. He has a breakdown here, and for me this is very negative, and I will make it very important in my trading because I will think that when the rallies come, they will fail.