Dow futures fall more than 300 points as oil, Asia selloff rattle investors

Dow futures fall more than 300 points as oil, Asia selloff rattle investors



This is an outstanding article about why we may be truly falling into a bear market.  As Rebecca O'Keeffe said, every upturn is met by deeper falls.  I was trying to be optimistic about Google and Facebook, but the rest of the stock market is going to pull these good stocks down.  I have entered tight stops to exit GOOG and FB today if the market falls hard like the futures indicate.



In addition to oil and futures bad news, $NYMO (NYSE McClellan Oscillator) is still in a double bottom around -81, and it will most likely stay there today or go lower.  This is highly unusual because $NYMO usually has V shape recoveries from oversold conditions.  The fact that the McClellan Oscillator is stuck in a greatly negative pattern means there will probably be no strong recovery.  We are about to take the next step down in a new bear market.



I am short the Dow, and I plan to add to my TMF position (3x long term treasuries) today because I believe we have fallen over the brink.  The stock market top is in, and only downside remains.  Even if we eventually get a positive reversal, I do not believe we will see the Dow at 18,000 again anytime soon.