‘The Fed-fueled fantasy bubble has popped.’ Stock investors are detached from reality — but they’re about to get a big dose.

MarketWatch/Michael Sincere/1-23-2023

‘If it looks like a duck, walks like a duck, and quacks like a duck, it’s a duck! Most stocks are far below their 200-day moving averages. Also, even when good news comes out, most stocks can’t get any traction. Finally, during the last few months, money has been flowing out of stocks and into bonds. All of these clues suggest a bear market.” – Jeffrey Bierman

USAGOLD note: Bierman sees a 20% drop in the S&P to 3200 as in the cards…… “You can’t be 100% in stocks,” he says.