Posted by bpozdoll1717 on 15th of Aug 2022 at 11:53 pm
I know Steve and Matt both believe the market will go higher
first but that we are likely still in a bear market. However,
I was reading that no bear market rally since 1950 has exceeded the
50% retracement. Yet we are likely going to hit 61.8%.
Not sure if we had larger than 50% retracements prior to
1950. Any thoughts?
Don't believe everything you read - that is completely false.
I suggest you take time to review ALL prior bear market
rallies and determine for yourself how far they retraced.
So technically, I should have said it didn't hold above the 50%
retrace. That was what was most important to me. It was a pinnochio
move at that time. Of course much different environment. I remember
it vividly. I remember the bottom on SPX being 666 & change. I
was saying, lets just call it 667
This came from my meditation this morning: The acceptance of
imperfection is freedom.
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I know Steve and Matt
Posted by bpozdoll1717 on 15th of Aug 2022 at 11:53 pm
I know Steve and Matt both believe the market will go higher first but that we are likely still in a bear market. However, I was reading that no bear market rally since 1950 has exceeded the 50% retracement. Yet we are likely going to hit 61.8%. Not sure if we had larger than 50% retracements prior to 1950. Any thoughts?
Don't believe everything you read
Posted by steve on 16th of Aug 2022 at 07:40 am
Don't believe everything you read - that is completely false. I suggest you take time to review ALL prior bear market rallies and determine for yourself how far they retraced.
I know for sure, the
Posted by fundamentalvalues on 16th of Aug 2022 at 07:47 am
I know for sure, the 2008-2009 period didn't exceed the 50% fib. It was only a 9-10% rally before the bigger move down into March 2009.
2008 Fib Retracement
Posted by steve on 16th of Aug 2022 at 08:07 am
In 2008 the largest Fib retrace was 57.36 Percent (183 point rally after falling 319 points). Check the Facts Guys - this negates both comments below
LET ME BE CLEAR - TRADE WHAT'S IN FRONT OF YOU IN ACCORDANCE WITH YOUR PLAN
So technically, I should have
Posted by fundamentalvalues on 16th of Aug 2022 at 08:15 am
So technically, I should have said it didn't hold above the 50% retrace. That was what was most important to me. It was a pinnochio move at that time. Of course much different environment. I remember it vividly. I remember the bottom on SPX being 666 & change. I was saying, lets just call it 667
This came from my meditation this morning: The acceptance of imperfection is freedom.