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SUMMER RALLY IS OVER
Expect a two-year extension of the BAAC Supercycle bear market
by Bob Bronson
Bronson Capital Markets Research
September 22, 2004

Our work shows the stock market's summer rally is now over.

We now expect resumption of the incipient second leg of the BAAC Supercycle bear market since the 3/5/04 S&P 500 high: http://www.financialsense.com/editorials/bronson/2004/0308.html

We currently expect a 50% downleg over the next 25 months or so to correct the stock market's fundamental overvaluation and to eventually revert to an extreme undervaluation level as illustrated by the following charts:

© 2004 Bob Bronson
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Bob Bronson
Bronson Capital Markets Research
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