Market Bears Still Have The Edge

Fed should raise rates this week as it will make no difference whatsoever to the world economic order.  Markets do not need anymore protection than they receive everyday from sovereigns and normal central bank interventions.  China is a fraud but what's new.  It is an overplayed card.  Markets could withstand another eight to fifteen percent break just on normal retracement action.  We still have the 2008 downside pattern intact which would lead to a terrible October.