Good Trading Dear Readers, Loooooong week!
There was no Bear Market, ever in last 110 year of ( my data) where DOw did not reach THE FAHAP before the Bear Was over. Sorry Bulls, but the FAHAP is at 9800!!!!!!!!!
That is what I said in response to Dear John's question inside Comments. Now, you know that I can not write correct? So, It should say THE FALAP not FAHAP , because There was no bear market ever complete without reaching FIRST ANNUAL LOW ATTRACTION POINT. OK and what is the bear market. That is a market that fell more than 20%. So, all market failures of more than 20% , have at some point met with the FALAP and so far it did not. FALAP is at 9800 for DOW and 1070 for SPX.
As the famous American Joke says: You can pay me now or you can pay me later! While I am not 100% if the market has put the bottom for this year, I am sure that this low will be broken next 2-3 years and will reach the FALAP of that year.