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Right today in the stock market today, Dow Jones closed down over 600 points, 633.87 to be

exact.

I forget where the lows were.

I know we were down over 700, I think, at the worst of it.

That is down about 2% or just over 2%.

Losses on the Nasdaq were a bit heavier.

The Nasdaq was down 3%, just over 3%, Russell 2000 down a little bit below 2%, and the

S&P 500 down a little over 2.5%.

In fact, this was the fifth consecutive day that the Dow was down.

That is the longest losing streak for the industrials since February of 2020.

So last year leading up to the complete collapse prior to the March lows.

I think this was the worst day for the Dow since October 28th.

Now the market was down all day, but the losses accelerated during and after the drone

Powell press conference where basically he delivered the most dovish press conference

I've ever heard.

It should have been a positive for the market, given how the market responds to easy monetary

policy.

But the fact that despite this incredible dovish Powell, the market not only didn't recover

what it had lost, but built on those losses should be very problematic for the bulls.

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