It seems to me like this run-up is one big head fake. Price continues to rise but volume is not there. For example, I've been playing/watching MRVL and the Vol =< half of its avg and it jumps up after hours, seems as if the MMs are trading shares amongst themselves to artificially keep price rising. But then again I only have a year under my belt I'm probably way off and will wait to see what happens w/election Tues. By the way did anyone notice the reaction from the market on the news of Wellstone's death last week.
To be perfectly honest, alot of the stats that are thrown around about 20% correction this or that are just semantics...With the volatility of this market, and with 25% 3 week rallies, its in a league of its own and will be defined by its own terms...The only thing any market historians can compare this to is 1932 when the Dow had similar percentage "jumps" between swing or intermediate term highs and lows...
not necessarily. 9500 is a 50% retrace from the lows. furthermore, "C" waves are known to fake people to drawing that conclusion (if we are in a "C" wave. more on this elsewhere on the site). I'm not sure about this, Vulture, but I think that, in percentage terms, we haven't begun to reach the post 1929 lows.
If the naz closes above 1410, Dow above 9K and S&P above 970 thus taking out their prev. rally highs, by definition, would signal the end of the bear.
Yep and we all know how she loves to conform to our labels and definitions :eek: Bear will end when it ends...
According to Art Cashin, shorts lightened up a bit last week due to potential rate cut and elections. Also, they have not been heavily shorting this week either, leaving stocks to drfit up on light volume. So says "The Man"...