The Top Is In. And They Know It. Recession Imminent.

2018 Returns…
JP Morgan: -1%
Bank of America: -2.8%
Morgan Stanley: -7.8%
Citigroup: -10.9%
Goldman Sachs: -12.5%
All closed at year-to-date low today.

Bank stocks in Germany from year-to-date:
#Commerzbank -13,1%
#DeutscheBank -38,3%


Major sell-offs on high volume & rallies on low volume indicate a market top, & the birth of the bear

Recent market sessions have become disorderly, probably due to money managers having no bear market experience/passive/algorithmic trading

3rd wave down soon

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  • S&P 500 Financials Index falls for 12th straight day
  • Financial Select Sector SPDR Fund ETF sees 8 days of outflows

Recession pending?

NY Times article discussing the feds interest rates yield curve may be signaling a pending recession.


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