The case for a correction and what to do about it

Trader on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters

Two strategists—one who studies fundamentals and one who uses charts—are making the case for a stock market correction soon.

Even with the market within spitting distance of an all-time high this isn't too far fetched considering the Dow Jones transportation average, a key part of any bull market, closed in correction territory Wednesday. China's stock market, a key measure of investor risk-taking, also closed down 10 percent from a recent high on Wednesday.

Here's how to batten down your portfolio if they're right...