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If we close above 1230, the bear market is dead, I presume.
Some time ago, I posted a link to a Zeal LLC note, that the recent market weakness was more consistent with a correction rather than a bear maret.
The weak consensus here was that since we closed below the 20month MA last month, that we are in for much more downside.
Anyone willing to stick his/her neck out and make a call?????
Marketguys posts have been awesome, but I really haven't seen much from Matt/Steve on the longer term view on the community posts.
We are struggling at the top of this big trading range and fighting very strong resistance. And no, 1230 is not a safe place to say it's over. It helps but it's not there yet.
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Boy, that was a short bear market!
Posted by mfogli1 on 21st of Oct 2011 at 01:28 pm
If we close above 1230, the bear market is dead, I presume.
Some time ago, I posted a link to a Zeal LLC note, that the recent market weakness was more consistent with a correction rather than a bear maret.
The weak consensus here was that since we closed below the 20month MA last month, that we are in for much more downside.
Anyone willing to stick his/her neck out and make a call?????
Marketguys posts have been awesome, but I really haven't seen much from Matt/Steve on the longer term view on the community posts.
If you look at this picture, you should see that NOBODY knows
Posted by johnc on 21st of Oct 2011 at 01:55 pm
We are struggling at the top of this big trading range and fighting very strong resistance. And no, 1230 is not a safe place to say it's over. It helps but it's not there yet.
bear mkt is "far" from dead....i posted numerous scenarios on the possibilty of 1250-1280...until then keeping the faith...
Posted by marketguy on 21st of Oct 2011 at 01:53 pm