More fronts than at any time in the last few years. Never underestimate the power of perceptual change in effecting financial asset prices and crowd behavior. If domestic investor perceptions ahead turn negative on balance, real selling will probably not be too far behind. Believe us, we have by no means experienced real selling in the current market. We have experienced lack of buying corrections, but not a real selling bear market.
Corrections are like being thrown into the deep end of the pool and hoping to swim.
Bear markets are like being thrown off a cliff and hoping to fly. The following is an update of the very important chart Tim produced for us last week. The 3350 number on the NDX is crucial. A sustained break below that level could mean serious blood is shed and possibly seriously fast. You can bet the technicians of the world are watching closely.