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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: jkc who wrote (1808)3/2/2001 1:12:17 PM
From: Paul Shread  Read Replies (1) of 52237
 
Great observations, JKC. I believe only one bear market in the last 80 years or so has ended in a capitulation day. At some point, there are just no more weak hands or sellers.

Was it the third leg? I don't know; I think we only made a lower low by 7% or so on the COMPX, probably by 10% on the NDX. Is that enough to qualify as a third leg? I don't know.

But all three indexes simultaneously tested and held very critical supports and levels that have historically marked bottoms (within 2% of 7/98 tops on COMPX and SPX, a possible new major trendline on COMPX). If we still have Phase III coming, we're due for a two-three month rally at some point anyway.
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