The worst is yet to come…buyers beware if you took no notice in 2008 take notice now!

The facts tell me that the bear market is picking up steam:

European banks are on life support, at risk of major write-downs totalling as much as $239 billion.
We’re experiencing currency fluctuations not seen since Lehman’s collapse.
Consumer confidence in America, Germany, France and the U.K. is already falling off a cliff.
Reduced spending by consumers will match reduced spending by governments. Case in point: just this week, the G20 vowed to cut fiscal deficits dramatically.

Europe is dragging the world down. It’s the perfect recipe for another recession.

The market opens high and closes low. Every rally is met with heavy selling. Stocks are deeply oversold but have remained that way for days and weeks. And many of the largest and most widely owned stocks have moved below their 200-day moving averages.

All key traits of a bear cycle.

The S&P is currently in the process of creating the well-known “head and shoulders pattern.”

BUT here’s the reality:

The S&P 500 shed nearly 4% in June.
Typically, 90% downside days—like what we saw last week—are followed by two-to-seven days of rebound. But it didn’t happen. Buyers are nowhere to be found.
The important head and shoulders pattern is at risk of not being completed, which is very bad news. And even if it is completed, look out below.

Stocks are on the verge of falling off a cliff and continuing this Bear Market 2008 crash which will look like a walk in the park.

Did you sit back and feeze in the last crash…the definition of insanity is doing the same thing over again…Wake Up and take action or loose your shirt!