Giant bear market rally...

This month so far we undercut the 888 monthly close on the SP500 low back in October 2002. So has the last 5+ years been a giant bear market rally off the March 2000 high- Oct 2002 low if we close this month under 888? We never hit that March 2000 high again.

Thoughts?

 

What index are you talking about? The NYSE hit a new high. The XOI hit a new high, as did the HUI.

 

Oh I see, SP500. Sorry

 

I'm not so sure that end-of-month closing data is important here. Using intraday data, which most analsts and traders use:

1) The 2000 high was broken in Oct. 2007.

2) The S&P's closing low in 2002 was 775.

So, no proof of a giant bear market rally yet. As grim as things may look, we're still working from a higher high and higher low.

 

That october 10th support still holding well

 

The ES already broke it while planet earth was selling off in the middle of the night, and now it's sitting just below that 10/10 intraday low. Things could get really interesting, really fast. Lower closes anyway. Maybe we'll see the gloom and doom day soon, and then we can try to get on with our lives.

 

we will end this downtrend when stock throws in the towel.

 

On the dow October 10th lows are holding at least.

 

first 'stock' has to grow arms, legs, some internal organs, and some fingers to hold the towel.

Did I mention a head?

Bet 'stock' looks somewhat like South Park's christmas poo.

 

yeah the oct 10 1982 lows holding quite well, were in tall cotton