Fun With Legs And Shoulders

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Price could certainly bounce around in this area for some time, but a failure to break through resistance (top red line) is further confirmation that the market decline that began so violently in Q4 of 2018, is the much-delayed third cyclical bear market of the secular bear that began in March 2000, nineteen long years ago.

While unprecedented central bank injections and reckless risk-taking on ludicrous leverage have certainly served to stall the inevitable mean reversion process in global markets this cycle, they also made this bear more vicious and dangerous than average for those presently holding corporate securities.

For those who are out of corporate securities and armed with cash, patience and a plan, once in a decade investment opportunities are due on deck.

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