This version may appeal more to the avg ETer. <object width="425" height="355"><param name="movie" value="http://www.youtube.com/v/9gW6yQZyx5w&rel=1"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/9gW6yQZyx5w&rel=1" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>
During the subprime situation a lot of technicians were mentioning how the dow fell though support and would fall much lower. It rebounded less than a week later. And within a month it hit 52 weeks highs. Same for Feb 27th and many other sell offs where the indexes had crossed moving averages and broke resistance. Each time the markets rebounded as if nothing had happened.
The examples you cite are in the midst of a mania, which you deny. You are a buy-side-only genius. Enjoy it while you can. It ALWAYS goes up, until it doesn't. Never say always Osorico BTW; To an extent, some TA, particularly methods with large followings, is self-fulfilling... lack of self-fulfillment of such TA is a valid, insightful, useful and tradable result.
indices mean NOTHING. there are huge bear markets within. leh 80 went to 50 bsc 150 to 100 mer 90 to 55 nfi 40 to 4's abk 95 to 23 c 50's to 37 bzh 35 to 10 spf 20 to 4.