Erasing of a decade of gains

spx_weekly

U-G-L-Y, you ain’t got no alibi.

Heavy selling over the last few weeks won’t let up.

But what’s strange is we’re not hearing a whole lot of chatter from the common folk, despite the erasing of a decade of gains.

We usually see situations where once the Moms in the checkout line start mourning stocks it’s time for a reflex rally. Not all the time, but it’s been a good indicator for near-term bottoms.

No telling what may do it this time.

All we can say is we’re glad to have stayed out of this market!

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