The Bear is B-a-a-c-k: Stocks’ Breakdown Confirms It

 Make no mistake readers. This week's meager and abortive stock-market bounce reconfirmed that the bear is back as prices broke below key chart levels. That augurs another summer of lower prices and higher volatility.

In technical analysis, when a price floor, also known as support, is broken to the downside we get a bearish signal. Prices start to fall, but often we see the market attempt to rally back to that broken support level in what chart watchers call a "test" of the breakdown.

If the market is truly bearish, investors who missed their original chance to sell at the initial breakdown see a ...

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