By the time we get official confirmation of recession, bulls will be officially buried. Like last time, except far deeper and with no hope of bailout.

by BoatSurfer600

🇺🇸 #Recession | *US 2-to-10 Year curve inversion reaches mark last seen in August 2000 – Bloomberg pic.twitter.com/0on4eVcM4D

— Christophe Barraud 🇫🇷 🇲🇨 (@C_Barraud) August 8, 2022

Monetary tightening stage 2 – on a backward looking basis, private sector borrowing has partly offset Fed tightening. But bank lending standards have tightened enough so that credit creation is set to roll over, risking a deeper downturn. pic.twitter.com/pOUKPfUwCq

— Steve Donzé (@steve_donze) August 8, 2022

I just did the calculation; every penny that $UVXY goes up, S&P loses $7.4 B in market cap, and with all other US stocks, then US stock markets alone lose $10 B. That's why Wall St rats short $UVXY down; but once they lose control, then watch out. $5 T will go down the toilet.

— Markets Are Rigged 🇺🇸 (@SamBlak65731531) August 8, 2022

Reminder: Global rating agency #Moody's cut #Italy's outlook to "negative" from "stable" last Friday. The agency affirmed #Italy's sovereign rating at Baa3. #euro #ECB

You know what happens in the next downgrade… pic.twitter.com/O6wKjkMc4I

— Michael Nicoletos (@mnicoletos) August 8, 2022

Investors are breathing a sigh of relief as they hope the Bear market is over but it’s only getting started. The charts indicate this recent rally will be short lived. In today’s show we examine the broad market, bonds, a several trade setups from this past week’s Momentum Timer Pro report.

A weekly look at the breadth indicators, technical momentum indicators, volume profile, and the charts for the S&P 500 (SPY), Nasdaq-100 (QQQ), Long-Term Treasuries (TLT), Gold (GLD), Financials (XLF), Emerging Markets (EEM), India (INDA), Palladium (PALL), and our pick of the week, Mexico (EWW).