Richard Russell: Look Out Below If This Rally Fails


 Question — Why do you take the potential break-up of the rally that started on March 9 so seriously?

AnswerThe public has been led to believe that the recession is about over.  Moreover, they believe the stock market rally since March 9 is the market’s way of celebrating the forthcoming end of the recession.  If this rally falls apart (as I think it will) and the March 9 lows are violated, the investing public is going to be more disillusioned and disappointed than ever.


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