US markets are taking a hammering and it's only 2 weeks into the new year 2016. DJIA, S&P500 and NASDAQ are all testing or approaching their August 2015 lows.

Stepping back to an even bigger picture, the Russell 2000 Index provides some further insight. The Aug2015 lows provided no support and it's in free fall, 23% off it's highs. This seems to confirm the bear market, if there was any doubt, and portends further pain to come, perhaps a lot of pain and potentially for a long time.

Russell 2000 Monthly chart (2 years)
Attachment 7803

Russell 2000 Monthly chart (All Data):
Attachment 7804