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Strategies & Market Trends : Steve's Channelling Thread
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To: Mike M who wrote (26572)9/7/2001 9:26:44 PM
From: Zeev Hed  Read Replies (4) of 30051
 
Mike, there is simply not enough time for a "slow decline" here if one assumes that before mid October we get the final low of this first leg of a multi year bear market. These slow "deaths", are typical of the last legs of such bear markets (like the 1982 bottom), that is why I expect to see the development of extreme sentiments, hopefully before the end of next week, and then a sharp rally of about 300 Naz points and then a retest, possibly that one on somewhat lower volume and fewer new lows) closer to a classical double bottom. If a "catalyst" starts the next upsurge before such extreme are reached, I fear it will be short lived and followed by lower lows.

Zeev
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