It's the annual bear market of February. Every year we go through this nonsense of scary warnings and bad long term crashes. Well, I see a case for overheated market and correcting, but where is the catalyst? The drop in oil prices is great for spending and growth, and continued low heating oil and relief at the pump will in itself be a stimulus. The change in Japanese policy to stimulus has only just begun. The Chinese will also make adjustments shortly.
Until there are some serious failures, this is just February exaggerated by those who profit most from forcing a further correction through scary claims of crashes. There is likely to be a brief capitulation, but that will happen sooner than later.
By the way, CTIX is on the very cusp of completing its reversal in the next 2 to 3 weeks.
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