Probably by the end of this week, we will know that the Bear is indeed back. The market action of the last two days strongly suggests this.....
I will redo all of the important charts tomorrow night, and see what we have at that point...
What I am watching for is a decline of the $SPX, particularly, that takes it below the 'micro' trendline that it's been 'resting on' as it 'climbed'. None of the minor corrections in that index has penetrated that trendline since the rally started, so I will take that event as pretty solid evidence that this correction is of a different scale and much higher importance then the other ones.
1 comment:
The market has been in decline since 2000.
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