You must have lost a significant amount of money over the last year because the market has made the exact same consolidation up before another fall to lower lows at least 6 times. You are suffering from Cramer Syndrome.
Interactive Week Internet Index ^IIX Reversal. The bear market is over. Nothing but net, nothing but technology
Do people really trade with this nonsense? Unbelievable. Last I checked this was elitetrader, not elitetrendfollower/investor. I guess I have two sides to this. Technically I'm not going to dispute the trend is down, but that doesn't imply it will continue. Fundamentally, stocks at their lows were so cheap that we got the government rushing in to own a piece of it. Just think of BAC at formerly 0.19 times book value. Any larger fund could buy every share in a hostile takeover and keep the rest as profit. This is an archaic measure, but a very relevant one, and the actual reason stocks trade where they do in the first place. This gives rise to the understanding of rationality in a market. BAC at 0.19 book is irrational. Why? I can buy every share, and keep the owners equity. EMH at work in its modern form. BAC is just one example, but median price to book ratios are irrationally low and are usually whole multiples, not fractions of price. Median Market Price to book is 0.9. I'm sorry, bears have no reasonable basis anymore. This ratio is somewhere normally around 1.5-1.7. Even for financials the rule of thumb is 2.
Enclosed XLF chart ( 3 day -1 bar) You will see that from March 9th bottom, volume is decreasing as it is going up. False accounting,Our (tax payer) money used to pump up bank balance sheets to show illusionary profits! Let us enjoy the ride till the music stops!
Read and weep, idiot bears: Cramer: Wells News Is âSerious Game Changerâ http://www.cnbc.com/id/30141252 The economy is doing fine ... everything is fine. You want to see recession? Go to African countries like Zimbabwe or Ethiopia... that's what I call depression.
Yeah, "V" bottoms are highly reliable. And, island gaps are random, like............like...............like...........toadstools under a tree. Always somebody on the other side of the trade.
your 1st chart of spy shows a breach in jan , a touch in feb and a breach in mar of your upper tl, after the mrkt opened we stayed in an 8 point range in es all day til the last 15 min push ,that is typically a distribution day where they hold it up all day and squeeze the shorts,if it were a convincing break it would have rallied higher all day, there were no buyers to push it up, they moved it up to where they wanted to sell,dstribution,hence ,just a short squeeze,sorry but this is another preweekend headfake
Sadly, your charts, even with incorrectly drawn trend lines, do not show that either the downtrend is over (though that is a matter of the time period considered) nor that the bottom is in, and they certainly don't show us that the bear market is over. It is possible that the bottom is in, there is no way to know that at this point. It is very unlikely, however, that the "...bear market is over." May i respectfully suggest you look at weekly and monthly charts as well, and learn to plot trend lines. (Vic Sperandeo's book is one of the best for explaining how to do it. Get a copy and read it.)