Stock Market Selloff Is Confirmed

Last weekend I explained how that week’s market decline carried many negative factors, but needed a second week’s confirmation to be taken seriously. That confirmation has happened. Here is the last two week’s selloff picture…

The last two week’s clear downside pattern not only confirms a weak stock market, it opens the door to the possibility of new bear market lows. After all, the many negative fundamentals continue to be in full force.