The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: saveslivesbyday who wrote (106208)	2/22/2008 12:44:58 PM
From: XBrit	Read Replies (1) of 306849

look for bounce at 12140 on DOW and/or 1326 on SPX, or look out below... Today, next week, sooner or later the supports all fail. The market can only ignore a growing tsunami of bad news for so long. This is NOT a bull market correction. Jim Stack had a very interesting chart in his report last week. He showed that if you plot the % giveback from the preceding bull market gains, it is remarkably consistent over 50 years that bear markets give back 45-60% of the gains of the previous bull. The 2 exceptions were 1969 and 1972, where the giveback was much higher. This bull was roughly from SPX 800 to 1560, so the 45-60% rule gives us a range of roughly 1100 to 1220. I am expecting at least the lower end of this range, given the seriousness of the fundamental situation.

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