Think about this: Almost 10 percent of all NYSE stocks that traded on Monday, July 20th, hit new 52 week lows with the stock indices near their all-time highs! This is a dangerous dichotomy, a very Bearish development, and warns us that the stock market sits at a fragile place. Tuesday's sharp selling may be the beginning of a deep decline. A drop below the wave {d} level, below 17,465, will confirm that the top is in.
A negative zero-interest rate world will have profound implications for us all. One expected bonus, however, might be that it puts an end to this paralysing pretend-and-extend strategy that has dominated the agenda for far too long
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