The Bear Trend Starts....

I am not a person who easily say "Bear Trend", much less "Crash". The market has proven to be extremely resilient over it's history of more than 90 years. Over the past 90 years, we have only since a couple of real bear trend instances and all of those instances eventually got up and got higher! It is not an easy market to crash at all but from the action today, I see some problems as I mentioned yesterday... if the Dow breaks below the 12800 level tomorrow, we could be in for some trouble. I shall say no further today and I hope I am wrong. The Dow has dropped 3.62% on a weekly basis. The last time it dropped 3.62% on a weekly basis was back at 19 April 2005, which of course ended with the Dow in a rally. Yes, the market usually comes back when hope seems the thinnest.