Interesting, same thing happened exactly the same time last year, I guess that was the previous record, this adds credence to the theory that the markets are essentially about to embark on the same journey they did last year at this time...
A summer doldrums decline...
But "this time is different" as they say, and I do think it is, I think the potential decline could be much stronger, how will a bottom be reached? Forget the election pump-job... and the August bottom which came about 2 and 2/3 months before the election...
Even if we look towards a 2005 Christmas pump job, we get a potential "bottom" around early October... so if this correlation stands true minus the November election and with a Christmas pump job to save the markets at the tail end of the year, we still have a decline which may have already started but which could potentially last 2 times as long or be 2 times larger in force...
Interesting... and are we witnessing the right shoulder of an imperfect H&S top here which might roll over this month?...
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