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With the spike in volatility the accompanied last Monday's 600+ Dow point sell-off, it's safe to say the trend has changed from UP to DOWN. The "tell" here is the Russell 2000 Small-Cap Index, still well off its record high of last year, even as the S&P 500 and NASDAQ Composite Index banged out record highs given the hype surrounding the Uber and Lyft IPO's. This is as it was in October 2007, the end of the last Bull Market, and we all know what happened there! So, we are in a Bear Market (minimum decline: -20%).
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