RE:RE:Another bear market rally ?You got that right about the 3000 level.
3000 level is quite foreseeable since it is about 35% cut from the high in 2021.
If there is any deep recession , 3000 may very well be taken out and some.
flamingogold wrote: Typical bear markets see quick rallies that fade and get taken out slowly with lower lows. This becomes a frustrating ordeal for many investors as every buy lands on quicksand. Eventually, buying the ralliles begins to wear thin.
At some point, unknown to all of us, the bottom will be in but usually only seen in the rear view mirror and not at the time. I believe the S&P has to be wiped of all its covid gains. That would be around 3300 but since markets overshoot 3000 is a better bet. Buy in between that range, accept the pain since the buy will likely go red for awhile, but eventually it will turn green.
clubhouse19 wrote: Some are saying that the market has another 20% loss to go.
IMO we haven't seen anything that would indicate to be be nearing a bottom yet. Are the traders taking this last rally as another chance to sell or short into it ?
The shorting summary report will come out on Monday and will give some indication of the action these last 2 weeks.