Cunning conundrum …

Posted on Sep 08, 2015 by in Letters

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464

Houston we have a conundrum.  But we may have a cunning way to deal with it.

The market has broken the Basing Point stops.  The mar09 tsrendline is broken.  The Dow Theory has produced a sell signal.  The talking heads and the permabears (polar bears?)  think it's the beginning of a bear market.  What do we think?  We don't think.  We analyze.  We view the entire formation, as here:

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