The U.S. stock indexes have suffered major technical damage recently, to suggest market tops are in place. Tuesday’s gains did not repair that damage. More downside price pressure is likely coming. Tuesday’s rebound in the U.S. stock market could be just a “dead-cat bounce” that many times occurs after a market has been mortally wounded. Indeed, the steep downdraft we have seen in stock indexes cannot just be swept under the rug by the equities bulls. Stay tuned!–Jim
