The DOW Jones dropped almost 5% last week as the latest Twilight sequel dominated the box office. It remains the top movie over Thanksgiving, beating out three highly-rated family movies, taking in $62.3 million and beating The Muppets by $20 million.
Meanwhile, the state of Europe’s sovereign debt problems remain the real horror show around the world as markets hate uncertainty and when the economic future is in the hands of politicians, we have a very uncertain future.
We can expect more of the same this week until we either fall off the cliff as confidence evaporates (and this can happen faster than you think) or another rumour of a miracle solution spreads across the news wires and traders take advantage of these false hopes (especially if they’re the ones starting the rumours…)
The undead live forever in vampire movies and right now, this debt that will never die is sucking the lifeblood out of our future hopes and dreams.
The MarketBOB Long Wave has turned decidedly negative as the correction takes hold: