Buckle Up: Stocks Are About to Begin “The Next Leg Down.”

Major declines follow a distinct pattern:

1) The initial drop.

2) The bounce.

3) The final collapse.

This recent market meltdown has followed this pattern perfectly. As I write this, the markets have completed numbers 1 and 2. The #3 began today.

The S&P 500 has bounced right into former support. The rejection, just happened, will lead to a sell-off into the true "panic low."