Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (39955)	4/11/2009 1:31:43 PM
From: bearshark	1 Recommendation Read Replies (1) \| Respond to of 208300

I2: Thanks for the chart. I did a quick look at the October 2002 low, the March 2003 retest, and the first leg of the succeeding bull market. I haven't charted the data and use the INDU. The closing low on 10/9/02 was 7,286 (Bear Market Low). A 35-trading-day rally (Preparatory Rally) took the INDU to a closing high of 8,931 on 11/27/02. This was lower than the previous closing high of 9,054 on 8/22/02. The Bear Market Low of 10/9/02 was successfully tested on March 11, 2003, with a closing of 7,524. After that, another rally started and broke above the Preparatory Rally high of 8,931 with a close of 9,039 on 6/4/03. That was the beginning of the first leg of the succeeding bull market. The 8/22/02 high, prior to the Bear Market Low, was taken out on 6/6/03 with a close of 9,063. Now, the plots and terms are mine and anyone may disagree with them. I hope I have the numbers right. Anyway, we don't have to break above the previous high although we may do that next week. The March 2009 low deserves to be the Bear Market Low because of its brutal beauty. Let's hope it is anyway.