Tuesday, February 9, 2016
On the heels of the Dow plunging nearly 400 points at one point during today’s trading session, and with gold surging and oil falling, today a jaw-dropping indicator that was last seen during the Great Depression just hit an all-time high!
But first, let’s start with an important quote from last Friday:
“I continue to be somewhat surprised that all the destruction that has occurred in the stock market thus far hasn’t led to a wide open break, but the pressure continues to build and I think a big dislocation is as close to a certainty as those things can ever be. I realize that is a pretty bold statement on my part, as such events are quite rare, but in this case it is a virtual slam dunk, for reasons I have reiterated many times.” — Bill Fleckenstein 2/5/2016