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Warning: The ‘Stealth Bear Market’ is About To Show its Teeth
davidstockmanscontracorner.com / By Victor Reklaitis at MarketWatch /
Following China’s lead, Dow futures have wallowed more than 300 points in the red. “Investors are not going to like the start of this year,” says Naeem Aslam, AvaTrade’s chief market strategist, in a note.
Today’s call of the day fits the bearish mood that’s dominating 2016’s first trading session in the early going.
The new year brings a “possibility that the ‘stealth bear market’ we have been in for 6-9 months is revealed as a true bear market,” says Jonathan Krinsky at MKM Partners in a note.
MKM’s chief market technician warns the median stock in the Russell 3000 RUA, -2.26% , which represents 98% of the U.S. stock market, is “now down over 20% from its 52-week high.” So his shop’s “base case for 2016 is that the weakness seen at the stock level finally makes its way to the cap-weighted index level,” meaning main benchmarks like the S&P 500 SPX, -2.09% and Nasdaq COMP, -2.55% . More from Krinsky below.
The post Warning: The ‘Stealth Bear Market’ is About To Show its Teeth appeared first on Silver For The People.
Source: http://silveristhenew.com/2016/01/04/warning-the-stealth-bear-market-is-about-to-show-its-teeth/
