August 11, 2014

Dear Clients and Friends,
It’s hard to believe that summer is nearly over. Labor Day is a few short weeks away and
mid-term elections are just around the corner in November. Evidence suggests the “Lost
decade” in stocks ended in May 2012, and the US is in the early stages of a new bull
market until proven otherwise.

The market could use a correction of 10-15% just to keep things healthy. As of this
writing, there is no evidence whatsoever of “bear market price action”. Even a decline
from the current S&P value of 1936 down to 1580 would not surprise market technicians.

To read the August 11, 2014 newsletter, click here: Inside Cenacle