Nasdaq’s Not-Meaningful Drop

At first glance, it would seem the swift swoon on the Nasdaq was kind of a big deal, since it’s been such an unstoppable monster lately.

But in the grand scheme of things, it’s nothing. Unless we break 7000, the bulls are large and in charge.

Of far more concern to me is bonds. If this base completes and starts flying higher, the core of my thesis is in trouble.