Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of the PreMakret Prep website joins me to discuss general bearish sentiment and the belief by pretty much all traders that markets are going lower. Even during a day like today where all the broad averages are up over 1%, the NASDAQ is up almost 3%, no one is calling for a prolonged run higher. All we hear is that this will be another dead cat bounce/bear market rally. This general belief has now turned into an acceptance that the bear market still has some time to play out.
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