heres the playing field for the month ahead...
stockcharts.com[h,a]daclyiay[d19970301,19970709][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
can almost see the next pierce and sucker run....the next consolidation period as bulls think they are loading up the bottom.....
and BAMM....the sucker punch and capitulation to 1200 or lower....as bulls realize they caught another falling knife....and bears turned bulls thinking they have a bottom start to puke like a bull....
and it sure don't look like a ramp off this bottom either....look at the yoyo action around 1195....talk about shake and bake.....
and they say this final phase of a bear will wipe out both bears and bulls....you can see why.....bulls trying like normal to buy a bottom all the way down...and bears who just can't short this low down near a bottom turn bulls to join the falling knife catchers...
and even the bears with balls to short will be whipsawed in and out so much it might not be worth it....unless they catch the tops and just walk away and don't look till the next bottom is nearing on the retrace...
its said by the time the final phase is over...most will want nothing to do with the market.....you can see why....
this would be the playing field after the new bottom under the old sept bottom is set....
stockcharts.com[h,a]daclyiay[d19960301,19970409][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
you can almost see a false retest double bottom will come around that 1200 area before another leg down to that 1000 area....just more of the same all the way down....even more pain for the bulls still left....
will it work this perfect....no way....
but i bet it will be close to this scenario....
heck...just knowing this could happen should save your butt fron financial ruin....and thats more important than trying to catch a bottom or fear of missing a bottom.....
especially in a market that has no bottom.... |
