Has the Bull Market Finally Ended?

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via GPC 

Something has changed in the market.

The momentum-driven rally that pushed stocks to new all-time highs completely floundered a few weeks ago. What should have been a monster breakout on massive buying power ended up being a feeble push to new highs before stocks promptly rolled over.

More and more, that is looking like a false breakout. This opens the door to a SHARP correction downwards. The first major line of support is just below 2,800 at 2,780.

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That is the GOOD outcome. The BAD one is if US stocks finally get contaminated with what the rest of the world is currently facing= a full-scale meltdown. If the US goes the same route as China, the Emerging Markets, industrial metals, and other growth-related asset classes, the S&P 500 could easily collapse to sub-2,600.

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That’s the pretty bad outcome. The REALLY bad one is that the Everything Bubble bursts and we swiftly move into a crisis that makes 2008 seem like a picnic.


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