US equity markets have shrugged off a modest gain in Asia markets, fading consistently from the European open to open down hard and pushing Nasdaq Composite back into the red for 2018... Its worst year since 2011... Dow is back below 24k...(not helped by JNJ again) This is the worst December for stocks since 1980...(and according to BBG data, the worst start to a December since at least 1950) BMO's Brad Wishak asks: Did stocks just ring the bell? Not too often you look at a 25yr quarterly SPX chart... Even more rare however is the bearish engulfing candle we are seeing unfold here real time... Of course this is only one candle and time will tell, but we're in new territory here as far as bearish engulfing goes on this time frame. Will The Fed rescue the market once again on Wednesday? Good luck being "dovish" when market expectations have already collapsed...