Looking at the March 2009 decline and subsequent parabolic rise, there is only one conclusion to draw: we really bottomed at march low. That's just how charts work. Not only is this a traditional double bottom (where the second low is lower than the first low) but look at the accompanying hyper volume, hyper magnitude and hyper slope of the March low and bounce.
Sometimes it's easier to assess the situation by flipping the chart upside down. Go ahead, flip this chart upside down either mentally or with a mirror.
If you had the chart upside down, you would certainly be laughing at the bulls for not knowing the bull market is over. Likewise, the bulls are now laughing at the bears for not knowing THE bottom is in and the bear market is over.
An interesting thing has happened with the chartists lately. Many no longer believe the charts. lol. Instead they have become "fundamentalists" and give hundreds of reasons why our economy is doomed.
Sometimes it's easier to assess the situation by flipping the chart upside down. Go ahead, flip this chart upside down either mentally or with a mirror.
If you had the chart upside down, you would certainly be laughing at the bulls for not knowing the bull market is over. Likewise, the bulls are now laughing at the bears for not knowing THE bottom is in and the bear market is over.
An interesting thing has happened with the chartists lately. Many no longer believe the charts. lol. Instead they have become "fundamentalists" and give hundreds of reasons why our economy is doomed.