So is this all we’re going to get? Maybe. In the span of just hours, we’ve traversed from the peak of the medium-term channel to the bottom. I’ve seen this movie before.

(Click on image to enlarge)

So…time to buy the dip, right? Because things are so cheap, yes? Am I right? I am stunned some of you have been calling the market “relatively cheap”. Just jaw-dropping. A Dow at 500. That would be cheap. Not this.