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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (16741)3/31/2003 10:55:06 PM
From: bobby beara  Read Replies (1) of 19219
 
The closest massive accumulation we got in 1 week period of similar consequence was into the July 2002 low. That was THE REAL LOW as far as I am concerned. The lows in October 2002 did not exude the depth or intensity of selling as July.<<<

JT, if you turn the bear market upside down, you could consider that the july low was a buying panic and that we have been in a sideways consolidation since.

I think that's they way you should look at it, all the long term averages are still moving down, the bears have the MO.

this whole sideways move from the july lows may be a bear flag, rydex ratios are a bull market phenomenom, the only ratios that have a long term track record are the Investor Intelligence ratios which were around during the 70's bear and that any contrary analysis should take that into consideration.
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