Further tankage to the 2495.50 target shown seems a foregone conclusion, although the glacial pace of the descent is at times something to marvel at. Most of the distance will be traversed in mere hours, as we know, with the perhaps many days in-between working ceaselessly to disabuse traders of the notion that they can profit from something so obvious. Or is it? I’d temporarily shelve the bearish case if the futures were to rally above the 2744.00 peak that occurred on March 21. But anything shy of that would be just noise, as far as I’m concerned — a side show to distract us from the possibility that, yes, maybe the bull market is finally over. However, we know not to let a mere rally to new record highs negate this suspicion. In fact, and as I’ve mentioned here before, it would be the perfect way for Mr. Market to set the hook. No matter what happens, I can assure you we’ll never be so distracted that there will be any confusion about the trend.
