"We live in a world where love itself is condemned. People call it weakness, something to grow out of. Some are saying: 'Let each one become as strong as he can, and let the weak perish.' They say that the Christian religion with its preaching about love is a thing of the past. The neo-paganism [of the Nazis] may well cast off love but, in spite of everything, history teaches us that we shall be the victors over this. We shall not forsake love." Titus Brandsma, executed at Dachau, 26 July 1942
The market action was technically volatile and ugly, with a strong downside bias. The Russell 2000 Chart shows a definite divergence to the upside and the best hope for the bullish case.
Today with the simultaneous declines in the major US stock indices, the Treasury long bonds, and the US dollar we had the first indication that capital flight might be occurring. We'll have to see that continue next week to start regarding it as a trend.
