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The Tell: ‘Big bear market’ for stocks lasting several months appears to have begun

The “big bear market” for stocks that market timer Tom McClellan has been expecting appears to have begun, as Tuesday’s broad selloff turned a key technical indicator down from an already negative position to convey a “promise” of lower lows.

McClellan, publisher of the McClellan Market Report, said there could be a pause in the downtrend this week, as his market-timing signals point to a minor top due on Friday. But with his “price oscillator” turning lower following the Dow Jones Industrial Average’s DJIA, -0.30% 425-point drop, and the S&P 500 index’s SPX, -0.15% 1.3% slide on Tuesday, he turned bearish for short- and intermediate-term trading styles.

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