ES Journal - 2016

2966

 

And China went - 20% prior to the rest of the world followed.

 

what would 50% down indicate?

 

It coincides with 200 SMA weekly basis. Lawrence Chan established that statistically 50% retrace is primary target for sellers, many times profits would be locked in. A strong probable bounce.

 

what would 50% down indicate?

not certain about that--both of the last 2 bear markets went further than 50%

 

Not saying it would stop there, a bounce.

 

+339

-366 vs +1020

 

not certain that this is valid. Neither of the last 2 bear markets had bounces at 50%

 

Last bear overshot 50%, 50% was 785, market went to 746 and bounced over 25%.

 

Didn't we get down to 666 last time?