Tracking the Bear Market over recent years
The speaker discusses the economic crisis and its impact to the treasury and commodities markets. He talks about the crash in oil, gold underperformance, Dow Jones Industrial Average, and the housing market and regional banking index.
He is surprised that gold is not moving higher and illustrates its approach to 200 week simple moving average. Regarding oil, he believes that the selloff was due to pension fund liquidations and sees it heading lower.
He suggests that the Dow Jones completed its 26 year bull market from 1982 and has now entered into a multi-year bear market. It broke through its 200 week simple moving average for the first time since 1982.
The housing index is trading at new all time lows. He talks through housing starts and other housing data suggesting trouble ahead. Community and regional banks will also need to be consolidated as additional defaults and foreclosures are around the corner.
He is surprised that gold is not moving higher and illustrates its approach to 200 week simple moving average. Regarding oil, he believes that the selloff was due to pension fund liquidations and sees it heading lower.
He suggests that the Dow Jones completed its 26 year bull market from 1982 and has now entered into a multi-year bear market. It broke through its 200 week simple moving average for the first time since 1982.
The housing index is trading at new all time lows. He talks through housing starts and other housing data suggesting trouble ahead. Community and regional banks will also need to be consolidated as additional defaults and foreclosures are around the corner.
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