THE CLOSE- MORE NAUSEA

Hope you have been listening. The ice gets a little thinner today. Many looking for why! We couldn’t care less. The only thing we know is that we thought June 9th reminded us of what he had seen before…a top for an important area of the market. Before that, almost half of the market was already in bearish phases of different size and shape. It just worsens.

The list of areas we have told you to avoid just keeps getting bigger. And today, the S&P, EMERGING MARKETS, RUSSELL moved below the 50 day. It is not a death knell but when you add up the weight of the evidence…

Today, seeing junk bonds breaking support, seeing reits breaking down further. This on top of supermarkets, drug stores, retail, auto parts retail, discount retail, autos, energy, oil &gas, big telcom, disk drives, food, consumer staples, media, fertilizers, most commodities, utilities, apparel, Brazil, Russia, gold and silver.

Ladies and gents…it’s adding up. Stay tuned.