Stock Market Correction Only Delayed

This just in - the correction has only been delayed!

"Predictions that U.S. stocks would decline in September and October weren’t wrong, just early, says Mary Ann Bartels, an analyst at Bank of America Corp.

Using the earlier rallies as a guide suggests the "seasonal weakness" that stocks often suffer in September and October will occur in November, December and January instead, she wrote. Bartels, who relies on chart patterns to determine the market’s prospects, wrote that a correction after the current recovery would lay the groundwork for further gains next year. She sees the S&P 500 climbing as high as 1,325, a gain of 22 percent from the benchmark’s close of 1,087.68 last week."

This reminds me of the old Wall Street question: What's the difference between being wrong and early? The correct answer is nothing.

Read more at Bloomberg.