It depends, if the internal dynamics of the market is still the same as it was 1 month, 6 months or a 1yr ago etc (i.e. the data these indicators are using for their current display) is still valid, then yea they probably will be right. If its not, then its a whole new ball game.
Apart from that, what we really should be doing is looking at each of the 500 companies in the S&P 500, not the S&P 500.
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