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The bull and bear bronze statue stands outside the stock market, Deutsche Boerse AG, in Frankfurt, Germany.

Michael Probst/AP

Globe editors have posted this research report with permission of Phases & Cycles Inc. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:

Despite the recent battering, the bull market remains in force until such time when key support levels are erased. If our scenario is correct then the bulk of the price damage has already been done but risk control remains absolutely essential.

This is a time to be cautious and let the bull regain strength. We believe that the "end game" of the correction still has a number of weeks to run, likely ending in mid-October.

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