This idea SPX is quite simple. As we know, the market is unique, but fractal . And in looking for various possible situations, we may well find some similar situations in history. The essence of the idea is in such a simple tool as a 12-period moving average on a monthly chart. It is clearly visible on the chart. That the price has broken through the normal moving and testing basis as resistance. In the past crisis periods. 2000-2002 and the crisis of 2008. In 2008, after the protesting pattern tested the moving pattern, the market was found bottom, after 10 months, and after the test in 2001 after 9 months. So, we propose to proceed from this idea that the bottom for markets is waiting for us somewhere around the second quarter of 2023. Where in other parameters and expectations, at the end is a bearish cycle. It's not bottom time at the moment. But only time will tell where it is