chuck, i may be capitulating, i no jmootx sezs they don't capitulate in bear markets, but i may be capitulating on my bearishness -g-, i've been pouring over 100's of charts over the last couple of days, there is a plethora of falling wedges in techland that are lasting from two weeks to 2 months or more, with a bunch of narrow bodied candles, todays volume was el shrinko shrimpo doji, might be the eye of the storm.
i'm now making book, that march 1st was the bottom and i'm giving +7 on the XFL timbuktwo bullz vs the chicago bearz, though if you remember i was giving the timbuktwo dudes +24 on jan 2nd -g-
imbo
and by the way jmootx, there were plenty of capitulation days during the 74 bear, depends on what u define as capitulation in statistical terms. Lowry's defines a 90% down day - 90% downside volume and 90% downside a/d as a capitulation day, these don't always happen exactly at the bottom, there were several during the 74 bear, several during the 90 bear and a couple during the 98 bear.
necessary capitulation is not easily quantifiable, but there is always capitulation on the bullish and bearish side. |
