While i see and respect the gap above 3300... question remains in my mind, why would there have to be a V recovery when it could have just been a bubble bursting?
What are the indications of the bubble bursting prior to CV? While CV could kick start a chain reaction, but it is too early to tell at this point. The market already adjusted around 20% based on fear.
As I was saying, short lived bounce ... we`re not finished yet! ... Patiently awaiting downside objective @ 2635-2650 range to be hit!!
Sure, It very well could over run my #`s... These are my calculations at a minimum & sticking to them... everyone seemed to think we were out of the woods & ready to climb Jacobs Ladder again! Stair way to Bully Heaven!
The 10% correction already wiped out the entire gains the 2nd half of 2019. The point here is that we are starting to see sellers and buyers as this level who hold 2 diff views. Let's see who will win and if support will hold.
I think that it would have been safe to conclude a bear market well before the 20% loss though, right? That always struck me as an arbitrary number that some talking head spouted off one day and the media has since promulgated. Just look at all those prior lows that were undercut on the way down, right?