The chart of the S&P 500 above says it all. The major indexes have made new 52 week closing lows, the recent uptrend from the January lows has ended and we appear to be beginning the next leg lower. This second phase of the bear market will be characterized by acceptance of the fact that equities will be declining for a long time and the market will now try to price in the new accepted reality of a recession. The only thing that stands in the way of a full scale market crash is tomorrow's jobs report. Good luck out there, I hope you have been short.
2 comments:
Nice looking chart for the bears!
'Tis
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