Odds that stocks are in a bear market increased with last week’s breach of a second ‘external’ low (labeled #3) on the weekly chart. As you can see (inset), the bearish impulse leg begun on November 5 from 13662 has now exceeded two ‘externals’ and a single ‘internal’, raising the imputed force of the move significantly. (Recall that to qualify as impulsive, a trend leg must exceed at least one internal and one external prior low or high.)  It’s easier than you might imagine to out-forecast gurus who do it for a living. Click here for a free trial subscription that can start you on the road to making your own trading and investment decisions.