Has the Decline in the Equity Markets Begun?

The equity market decline that I have been anticipating for the past couple of months may have begun. While markets typically don’t go straight up or straight down, it’s my view that we’ve seen the peak in the major US stock market indexes for the near term.

Take a look at the S&P 500 chart below. Note not only the significant decline but also the recent break below the support line represented by the blue line that I drew on the chart. Read more »