The bull market has ended, equity has to prepare for crisis. A price demolition is beginning, if you are aligned long-term you will rebound.
This time soft action (central bank action, bureaucratic) won't be able to stop the impending recession. The issues are fundamental as the cold war strikes back.
Obviously the market is resisting to a degree but the resistance causes complications, it's what has caused this incoming recession in the first place. The stock market resisted reasonable prices for a rally well beyond price/earnings of 10 and now people in institutional-equity will pay the price, as usual, possibly more depressing than 2008 this time with no bailout (won't be necessary with financial-sector debt levels, would destroy USD confidence thus wont be allowed) and much less acknowledgement of needing a recovery than 2008.
People are going to learn a lot about profiting from make-believe prices after confidence in this bull run continuing is gradually annihilated.
