Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 675.24

-1.2%

Nov 4 4:00 PM EST

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To: Lazarus who wrote (56949)	1/31/2014 6:45:26 AM
From: GROUND ZERO™	Read Replies (3) of 218428

Bottoming type indicators work extremely well in an upward trending market, but in a bear down trending market, the market can be over sold and very over sold for a long time while the market still continues lower... this is what a bear market does, it continues to look like a bottom only to rally for a day and then trap the new buyers as the market makes newer lows... I don't know the actual significance of the use of the animal bear in a down trending market, but I could easily imagine an unsuspecting buyer getting clawed and mauled to death as he continues to try for the bottom that never occurs... This is just a warning... yes, a highly spirited rally is the hallmark of a bear trend... and so far, this market is beginning to behave just like all bear markets... we could turn higher today, but I think the failed rallies of the past two days is telling... I would not be surprised to see February continue lower with the SP breaking below 1650 before a meaningful and trade worthy low is in place... just sayin'... GZ

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