When the casino opens on the highs and closes on the lows every day, that's what is known as a "bear market", and a sign that institutions are selling. But don't take my word for it...
For those gamblers waiting for the big "retest" vis-a-vis the February low, they will be surprised to learn it has already taken place and failed...
For example, the second largest S&P sector. Notice this doesn't say the worst month since February 2018:
Also already below the February low on a closing basis:
Materials, Autos, Retail, Homebuilders, Healthcare, Construction, Oil Services, Consumer Staples
Which leaves...
Crude oil:
As we see, the world's largest energy stock is well below the February low...
China Tech:
Growth/Momentum:
And...large cap Tech
As we see in the lower pane, most Tech stocks are already below where they were in February:
And the most glaring negative divergence of all, of course:
