I did not consider that one. I see the drop to 196 but I cut that retracement off at the 263 level that it hit on Dec 9th in 1929. From that level it went back down to 240 and then back to the 294 level you indicated. To me (and I am by no means a technical expert) that would indicate two seperate lower lows and highs.
Again, to me the market is a rigged game.
When you go to vegas you will lose if you play long enough. You will lose everything. If you don’t play you will lose nothing. It is all about risk and the market is not any different. If you have no appetite for risk then don’t play at all. However it is far to easy to come out and say after the runup that we have had that this is a suckers rally. It is harder to say I was a sucker for not buying into the rally at 7000, or 7500 or even 8000. Nobody forces you to stay in.
Also we are in a far far far more manipulated market now more then ever and I believe it will be dictated by the powers that be that the market will not be “allowed” to fall in the same percentages as it did in 1929.
