Dr. Hussman Tells It Like It Is! How Dare He!

I loved this today:
"With respect to the market as a whole, I’ve periodically observed that market crashes typically only emerge after the market first loses something on the order of 14%, rebounds from its initial loss, and then breaks that prior support. That support level remains about the 1820-1850 area on the S&P 500. After selling down to that level last week, the market staged a nearly obligatory dip-buying advance, aided by a parade of central bankers brandishing their large but ineffectual bazookas at the World Economic Forum in Davos."

Based upon historically reliable data, Dr. Hussman suggests that a recession is now the most likely outcome. Look out below! Dow closed down 209 points, with the S&P just about 20 points from the previous support level that represents the crash point.