Staring Into the Abyss

There's a lot of talk about sentiment, how it is negative and how this can make for a rally. Bear market rallies are nasty for sure. Yet, the charts are also complete. There's been no bounce in bonds. There are lesser bears out there who have been hibernating to this point, who will now awaken. There is nothing holding this market up. I don't expect a rally without a major flush first. The drop into the U.S. open is only a slice of what I expect is coming.

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