I totally agree. The fundamentals are so poor that they could override extreme technically oversold conditions. Could this massive wall of worry be too much for the bull to make a final move? ... I don't know... I don't think anybody knows for sure. The worst 6 months for ARMS resetting is the first six months of next year. Between now and the end of the year is childs play for ARMS resetting compared to what is to come. (This is why I thinking adding to a REITs short is "safe" money.) I would say if this bull is going to put in a bottom, it needs to happen soon, otherwise, this downturn could trigger a bear market that will last at least until August next year.
The general market typically follows performance of the banks so I think a bear market is not out of the question. We'll have to let the charts tell us when that point is here.
Jan 4 - We have transitioned into a bear market. Completely different rules apply.
May 23 - IMO, any price at/above this close makes a great Nasdaq/SP500 short.
