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Strategies & Market Trends : Point and Figure Charting
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To: AdvocatusDiaboli who wrote (32494)11/17/2019 12:42:29 PM
From: Fintas1 Recommendation

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toccodolce

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SERIOUSLY you can not follow my reasoning? OK. Well, there was a time when a 10% correction was considered the beginning of a bear market.

Now it's a ho hum. We saw near 23% last year into that oft refrain of a Santa Claus rally yet few were thinking it was the beginning of a BEAR MARKET. Most understood it was an opportune time to GO LONG. Which has played out as we have seen.

There was a time when the SPX was well under 1000 and now it's at 3000. Thus the % drop during that period of time in history was more significant off the lower numbers than the higher.

There was a time when a 500 point drop in the dow was an OH MY GOSH.. Now it can be common place. And as we have seen we MS SPX can easily drop 50 points and if memory serves it did bang 100 points and no one threw themselves off a building. But back in 1987 has MS SPX dropped 100 points yup many would have been heading for the hills. I have to go back in time to see what it actually did drop. I know the DOW did some 500 points and 20% in a day

So while you want to stay within the realm of what you and many feel is a comfortable drop that is 5-6% to take it down to X. As identified I can see that. I can also see larger that is supported by not just my opinion but what the PNF charts support or allow. Thus MS BABY BOOMER is not presenting something that is ludicrous.

After all this is POINT AND FIGURE CHARTING. I just present what is possible and what isn't. THUS a 40% drop is NOT possible at this moment in time. But 13% could occur over the next EIGHT months.The question now is from WHERE? IMO Fintas

"I cannot follow your reasoning as to why a 13% drop is a biggee at one level but a ZZZZZ at current levels."
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