The S&P Takes a Familiar Fall

August 5, 2014 4:08 PM

Derivative of our impression  that certain asset relationships - namely, commodities and bonds relative to equities, have been completing retests of both their long-term cycle lows (see Here) from earlier in the year and their secular cycle lows from 1999 (see Here), the current retracement decline in the S&P 500 is replicating structure and performance along very similar folds to the correction witnessed this past January - after  the initial cycle lows were completed.        

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