Look at the charts from the middle of march to the middle of may. Now look at the charts from the middle of July to the beginning of september. Looks like something quite similar is brewing here.
Here is the other chart of the IWM. What do you notice in comparison to the SPX chart? The Russell 2000 has not bottomed and the large caps have not bottomed either. If anything else, the large caps have demonstrated that there is no floor.
You never will get it Ivanovich. The very existence of this site is a total contradiction to its very name. Its financial existence is biased toward retail traders with the sponsors of this site. Blind leading the blind on a subject where NOONE can predict what happens one day from the next and where pros observe and do the opposite. Maybe you should go down to the local Charles Schwab and watch the old men camp in front of the ticker and spew stock talk all day. This place is just like that, full of people who have a gambling habit that they can't get rid of.
Fib retracement. Give me a fucking break. Take that bullshit moon and tide crap and discuss that shit in the palm readers forum. See, this is exactly why this site sucks. You might as well be talking to a bunch of Miss Cleo's.
The bear market rally is most definitely not over. However, I do expect we'll see (probably sometime over the next week or two) a large one or two day drop, just to shake out all the amateurs, chart slaves and latecomers. I figure the first leg of the bear market rally will last until the end of this month or so, then another downdraft into the end of February, then the mother of all bear market rallies through May. And then it will be time to go massively short from summer 2009 through at least the end of 2010 if not longer.
market going much higher. None of these worthless slopeofhope log charts mean anything. I know how stocks and the economy works. Since were in a mental recession and fake credit crunch the recovery will be 'v' shaped. Guaranteed up side & no risk.
................followed by the rise of Hister and the fall of the tall two brothers when fire comes from the sky in the new city?
Eh. I think sharing opinions is fine. But, by having a rigid opinion on what the market MUST do, the OP is losing the game. His ego is invested in the market going down. In this game, ego kills. He'll be so twisted up in feeling bad about being wrong that he wont think clearly and take advantage of the opportunities that are being offered.
One doesn't need a crystal ball, just a good understanding of history and how it repeats, as well as contrarian trends and market mechanics. Check back with me by summer, and we'll see how I did...