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Hello everyone.
Another week begins,
and this could well be the week that completes an impulse wave off the high in the stock market.
In that sense we are entering a high stakes week.
Where this bull market that we have become so used to
and so complacent about could vanish into history.
The stakes are absolutely eye watering.
The U.S equity market valuation reached a high recently of almost $40 trillion.
I am expecting a full cycle loos in market valuation of about 75% over the next 3 years.
That gives an estimated loss of 30 trillion in market capitalization in the U.S.
And we haven't even looked at the rest of the world yet!
As always, complacency will be punished mercilessly in this bear-market.
I will take it day by day here,
suffice to say that we have started in a fitting fashion.
Lets see how the week develops.
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