The one constant in this market
As I write this, the market is gapping up on a worsening economic outlook.
Defensive stocks cannot lead this market right now
I told you someone is going to jail.
Where is the leadership?
I have no idea how far this bounce/rally lasts or how far it goes…
You don’t hear this type of talk in bull markets
I am “feeling” lots of bearishness out there.
Here’s what’s working out there now
The market is the greatest forecasting mechanism and right now, this market is screaming a major slowdown
Could this be the low?
The number 1 rule of bear markets: Rallies are sharp and noisy.
Classic bear market action
The last time the markets were this stretched to the downside was when markets started their last bounce on June 14th
The bear market is gaining teeth
The rest of the market is now playing catch-up to the weakest areas.
Just what makes a bear market?
You may call the recent action whatever you want. But here are some facts.
Why I believe the bear market remains in force
Many of the strongest stocks in the market came under heavy volume distribution on Friday.
It’s too early to tell how long this move lasts
I will now need to see leading stocks breaking out on heavy volume off of sound bases.
Yet another distribution day
I would love to give you some light at the end of the tunnel for the “markets” but right now…nothing doing.