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Non-Tech : Kirk's Market Thoughts
COHR 155.07+15.2%11:41 AM EST
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To: Sun Tzu who wrote (14856)11/17/2022 9:14:12 AM
From: Kirk ©  Read Replies (2) of 26429
 
Here is another chart showing a whole index, the Dow, making a higher low in 2003 vs 2002
We have different perspectives on what constitutes a bullish formation. To me, the most bullish formation is if we were to hit the November lows between now and the end of January and end staying above it.
So.... for me.... I'd see the most bullish for this INDU chart would be a test of the 30,000 level to make a mirror reflection of the June low at ~30,000 around the 28,xxx low, which we see if you squint in both the 2002/03 and 2008/09 secular bear bottoms.

My guess is we'll probably get tests of the 50- and 200- DMAs from above then wait until 2023 to see if we get another recession.

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