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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (16064)	11/20/2002 5:15:24 PM
From: nsumir81	Read Replies (1) \| Respond to of 30712

edit-He left out the Jan 01 rally which gave us 28.41 % (only exception Summer 2000 also gave us over 40 %). Currently we are at 27+ % just shy of the Jan 01 rally. What I have noticed in these bear rallies is aside from having a consistent percent or point move (which I do not think exists), the BEHAVIOR or tendency or objective is to top out just below or around the previous support levels (give or take 1-2 %). By support I mean not one price level that one can watch like most folks seem fixated on 1425 but a cluster of prices (ie overhead). That is the objective, right? Coax folks into chasing it and keep the bagholders in suspension, and then stop it just magically and suddenly. So always the IMPRESSION of a major breakout, maybe give a quarter of the breakout if any, and then suddenly stop.