From Wikipedia (the all-knowing, all-seeing keeper of all knowledge) - The event horizon is a boundary beyond which events cannot affect an outside observer. In layman's terms it is defined as "the point of no return" i.e. the point at which the gravitational pull becomes so great as to make escape impossible.
With the stock market tumbling, it begs the question, "was that it?" Did S&P 500 cross the event horizon into the depths of a black hole (bear market)? Did Uncle Ben turn off the fuel leaving the market's engines to sputter and eventually fail?
Or, was it just another little ol' correction that will make the bears look as foolish as after the last one?
Well, I admit I thought the February high was the end of the road, not believing the market loved free money as much as Jimmy Fallon hawking credit cards. Clearly, I was wrong on the short-term timing but now there is a really good shot that the cyclical bear I thought would take us into the depths before the election has begun.
I'll refer subscribers back to the decade forecast I made a few weeks ago. Look for it in tomorrow's Quick Takes Pro.
I'll also refer them back the canaries (you know what I am talking about). Damage is starting to appear.
But you name it and there is a technical reason why it is time to preserve capital. Is it karma that Pandora is now playing "Officially Dead" by Veruca Salt? You cannot make this up!