Here are three things that are Bearish for equities....
First, the S&P 500 Technology Sector broke the uptrend that began in December and seems to be starting to trend lower.
Second, the Metals & Mining ETF...XME...is trending lower and seems to have broken important support at the $30 level.
Third, the US Dollar Index has broken support at the 100 level. This level was the top in March and November of 2015. Isn't it amazing that a market worth trillions of dollars could turn at such a precise round level? Ask a fundamental analyst why this happens...but don't hold your breath waiting for an answer because it has nothing to do with EBITAs or earnings.
Here are some facts about Bears. My favorite is #9:
1. There are eight species of bear: American black, polar, giant panda, Asiatic black, sloth bears, sun bears, spectacled bears and brown bears.
2. Black bears can run at speeds up to 35mph.
3. A male bear is a boar; a female is a sow.
4. Lord Byron kept a pet bear in his rooms at Cambridge, because he was not allowed a dog.
5. A bear named Wojtek was officially drafted as a private in the Polish army during the Second World War.
6. Originally a mascot, he lived with other soldiers in their tents, and helped at the Battle of Monte Cassino in Italy by transporting ammunition.
7. After the war, Wojtek retired to Edinburgh Zoo where he would wave at visitors who spoke to him in Polish. He died aged 22 in December 1963.
8. Shakespeare’s play The Winter’s Tale includes the stage direction: “Exit, pursued by a bear”. It is not known whether Shakespeare used a real bear from London’s bear-pits or an actor in a bear suit.
9. Peter the Great of Russia (1672-1725) trained bears to serve alcoholic drinks to his guests.
10. Grizzly bears can remember the faces of other bears they have not seen for 10 years or more.