The Shanghai market has already lost roughly 25% from its recent peak, and it took just three weeks to lose what required roughly three months to put on.
How do you like those odds, folks? Pay close attention to the lessons from the East, lest you get to learn them the hard way right here.
A 25% loss from the recent highs on the SPX places the S&P 500 around 775.
I smell a repeat of 2001/2002, when the very same "analysts" said the bear market was over and everyone jumped back into the pool going into the end of 2001, only to get destroyed in the collapse that followed and took out the 2001 low.