Despite a relentless rally off the lows in February, the bears continue to trot out with their doom predictions on every 1% down day. The S&P-500 (NYSEARCA:SPY) has rallied nearly 20% off the lows at 1800, but you wouldn’t know it if you’d only been listening to the bears. Many of them have stated that yesterday’s 1.2% drop is a sign of much worse things to come, and we should all be worried. How do they know this? They are all carrying crystal balls around, rather than looking at price. According to the bears, the oil crash of February was cataclysmic, Brexit was a black swan event, and the election will be the apocalypse. The oil exposure fears turned out to be a non event for banks, and Brexit was the first “black swan” in history that saw the market higher a week later.
To read more, you’re welcome to follow this link to the Seeking Alpha article written by Mr. Dart