Wednesday, February 3, 2016

US markets are adjusting to reality - we are in an industrial recession

The US indices have hidden the weakness behind the surface. The average stock in the US from its 12 month high is down already 26 percent. There are lots of stock down 50 percent or more. Basically the market has been weak for a while.

All the markets around the world are down meaningfully specially in US Dollar terms. Now we are almost in a recession, we are in an industrial recession.