Terrifying (if you think this market will not retest it's lows.)

I am still a firm believer that you cannot make a new low (on a daily chart) and not re-test it. I have been saying for weeks that equities are going down again...and so has Adam and his psychic abilities! Remember the S+P's new low was 666 back when everybody was saying the end of the world was upon us, a few weeks ago.

If you can give me any example from any equity or commodity...in any year...from any bear market...where a new low was not re-tested, I will stand corrected. Please prove me wrong in the comment section below this entry.

Meanwhile, Jamie Saettele, Senior Currency Strategist at Daily FX wrote this terrifying piece about equities today...that agrees with Adam above...and also confirms what I have been saying for a while too. It also suggests that I might need to avoid shorting the Euro for a while! Read the entire article to get the full gist of what he is suggesting...ouch!