What Are We Gloating About?

The S&P is now down 5 percent from it’s all time highs.

I really don’t know what is next, but the rest of these world ETF’s were once 5 percent from their all-time highs (thanks Charlie). Look at them now:

Manhattan is a rich ghost town.

Speaking of retail, it won’t be Bed, Bath and Beyond, picking up the slack.

Homebuilders are at 21 month lows.

I could share more sector charts and country charts, but take my word for it, it is ugly.

Meanwhile…Americans spent over $80 billion on lottery tickets last year, more than on movies, books, video games, music and sports tickets – combined.