Happy Weekend traders.

I want to begin by revisiting the elephant in the room. We’ve rallied hard in November from a low that I thought we weren’t nearly bearish enough at for it to stick. And stick it did.

At the end of October (here), I discussed how the market was either clownishly bullish or clownishly bearish. The clownishly bullish view involved a huge, macro “cup and handle formation” that at the time, looked like this (from that article on the 28th of October):

Read more “The Weekend Review of the Markets: The Coming Market Reversal”