I know many were looking for the markets to crash in late Sept/early Oct and I thought the set up wasn’t right yet….perhaps 2-3 months early at the time is what I said. Well if a substantial downturn is going to happen, the set up looks far better “teed up” now, perhaps to start in Dec. The red arrows on my chart indicate where I think we may be now relative to past plunges that have lasted a year or more. The only point I’ll add this time around is that MA seems to think there is a set up in the markets right now for higher highs in 2016 so we may need to be nimble in case a bottom is made unusually quickly this time around.

NYA