Stock markets around the world and here in the U.S., are deeply oversold and due for a major countertrend rally. I do think it would be a mistake to think the coast is clear and its “Happy Days Are Here Again”.
I believe we’re only through the opening act of a sideways to down stock market here in the U.S. We saw little if any real changes in the make-up of people’s portfolios despite some significant indications that some non-financial markets that have been in long-term bear markets, may be witnessing a true bottoming formation. Oil and copper are just two markets that fit that belief.
For those not yet in here with me, this eye of the hurricane now upon us just may be the last opportunity to put some feathers on and keep your head down.
For now, all I can say is this