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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 38.85

-0.9%

Nov 14 4:00 PM EST

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Gottfried

To: GROUND ZERO™ who wrote (83051)	6/21/2013 10:45:05 PM
From: Fintas	1 Recommendation Read Replies (1) of 206860

Re: "Was the 1000 SP point move from the March 2009 lows "just a bounce?" TIA" NO and I never stated it was as you are suggesting with the quotes. What I did say is we are about to rally soon off this recent sell off but it will be "just a bounce that will fail" Just as I stated the rally off the GOLD 1335 was " just a bounce" and was going to FAIL. It DID! That spx 1000 point UP was the continuation of the secular bull market that began back in 1981 ish that peaked in 2007 in the 1568 area. FAILED and then dropped to the 670 area.. However during the 1000 point move up there have been many bounces that have failed to allow for the continuation of this bull market. We didn't just go straight UP from 670ish nor are we about to do so now. It took near 2 years to work thru and hold above SPX 1324. A look at a chart from 2010-2013 will show the drops and BOUNCES and DROPS and bounces.. Until the bounce became a continuation to the 1458 a drop to 1340.. and a continuation up to the 1687. We are NOW witnessing the beginning of a healthy correction. . I am VERY VERY comfortable with Spx 1458 and a specific 1300 number. Once the full set of sequences are completed then the continuation of this secular bull will continue up thru 1786/1944 and on to 2430. We are in a secular bull market. Retracements are part of such. Bounces are part of such. Fintas

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