The bulls tried and tried, but it was a lost cause last week. Stocks never recovered from last Tuesday's stumble, and the bulls squandered their best chance to get back on a bullish track on Friday. All the major indices closed below key technical levels on Friday when the bullish effort that day petered out.
Near-term the market still isn't completely past the point of no return, but it's close, and it's pointed in that direction. However, while the tide may be pointed in a bearish direction,[...]