Further to our US stock market post of the 9th June 2014 (US Stock Market Correction Now Due) we see the stock market having entered that correction and anticipate it lasting 4-8 months into early 2015.
DJIA to pullback but NOT below 12875 with a likely low point around 14750.
S&P500 to pullback but NOT below 1600 with likely lows around 1737.
Note the uptick in inflation in the US. It appears the US Fed remains oblivious to what is really happening here. The genii is well and truly out of the bottle and you cannot expect the Fed to respond before inflation is ticking above 3% as a minimum. Whatever they do will be too little and to late.