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Last Week’s Bear Market Rally is Over

To be quite honest, I thought it might last until July 5th or 6th, but instead it appears that people are just heading to the Hamptons early and saying screw it. The bubblevisions all had their usual touts on promoting the idea that inflation is over (more on that later) and that the Federal Reserve is getting things under control.

The logical individuals all pointed out that this was just a bear market rally and would roll over soon.

And wow did it ever:

When the Dow rallies over 400 points then crashes down to close 491 points lower, one knows the large institutions are now liquidating their portfolios while having their inside permabulls go on television to tell the retail sheeple to BTFD.

This will not end well thus if this quarter ends with the S&P 500 below 3700, look out for a turbulent July leading to a massive decline this autumn as each sell off like this is a warning of a major crash coming in the future.

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