I agree, the top of the market was after Memorial Day weekend. The market will continue to show weakness as the currency devaluations and the "cash is king" mentality will take effect. Namely, American dollars. BUT, the American dollar will peak and slide bigtime when the time is right and the yen and other asian, eastern europe, and other currencies hit rock bottom. When is the bottom? Who knows. But the the top has certainly been reached.
What will the happen? Something with intrinsic value will become the choice to back currencies. Will it be gold? Perhaps. Even during this storm, gold has remained relatively stable after it's last big slide. Also, someone is buying a lot of Homestake Mining. Someone out of Germany. Someone very big.
The bull market is over, at least for the next couple of years. You would also think that if the rest of the world was bullish on the US, that the equities would feel the effects of the so-called movement of money out of Asia and other volatile markets. But that is not happening. Cash is king, but whose cash? Maybe the American dollar, but that will soon change, big time.
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