MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: 16yearcycle who wrote (13536)	7/17/2002 10:51:20 PM
From: Zeev Hed	Read Replies (1) of 19219

Eugene, what was and still is missing for a major bottom is massive capitulation, we have not had that by the indicators i have formed" to follow such a rare event. That is why right now, I am still looking at an anemic rally. If the momentum in the rally builds p and does not become extreme by itself, there will be no harm done in extending the expectation further to higher levels. A Capitulation is a rare event, but it is also a necessary event to start a solid lengthy rally. The reason is quite simple, capitulation takes out the "selling potential" at higher prices, without it, rallies are met by new waves of seller that have not yet "capitualted" (g). Zeev

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