Today is expiration day … and yesterday the Dow Jones closed at a NEW LOW, confirming the bear market.
A lot of main indices (S&P, NQ, DAX) still in denial, but should follow soon.
Here a fine quote of Richard Russell, editor of Dow Theory Letters:
“With a great bear market [now] in force, we’re forced to think in terms of individual or family survival. My subscribers and I are on our own now, dealing with a government that is attempting to print itself out of a bear market. More inflation on top of a bear market that was created out of debt and inflation will not work, at least I don’t see it working (not does the market).”
Unfortunately he is not far from the truth.
Can we make new lows? YES WE CAN