Willie Delwiche, CMT, CFA

And yet your "bear market checklist" is still 0 for whatever? https://t.co/Th1UCel0il

The S&P 500 is less than 2% off its all-time high and but only slightly more than half of the stocks in the index are even above their 200-day averages. It's not showing up in the index, but we're seeing lots of weakness beneath the surface. https://t.co/jMLJe2zUCB

II bulls continue to drop (down to 35.2) and bears climb (up to 31.5) as bull-bear spread drops to its lowest level in nearly a year. Stocks don't usually do well when bulls are heading for the exits. https://t.co/WZtNwA9LhB

Because Consumer Staples are stocks and stocks go down in bear markets? "Worst since 2008" ain't exactly evidence against a bear market environment. https://t.co/t3ccM2ZXcV

Green is gone, weakness is spreading like a fire. Love this chart from @granthawkridge https://t.co/wHzfN1XlvQ

We are at the point in the cycle where those who didn't see a correction coming are now asserting that the correction is mostly over.

Bull markets feature quiet strength. This market is both noisy and weak. We aren't (yet) in a 20% drawdown, but maybe the "bull market" label no longer applies. https://t.co/mmVx0TLzRm https://t.co/xaml7XOxF2

At this point in the cycle, we don't have a low until after we have a panic. And we have not yet had a panic. . .

Looks like it is ready to break out. https://t.co/m9FxsiL4B0

Bulls continue to stream toward the exits, with the II bull-bear spread dropping this week to its lowest level since June. All the net gains for the S&P 500 over the past decade have come with the bull-bear spread above 20%. Without bulls it’s hard to have a bull market. https://t.co/Shj9NdY7ZG