Many are talking about the double-triple- bottom...
I don't believe this is that.
I would think this is congestion before the next leg down... and mind you this is all happening under the neckline... the next leg down in my opinion is likely to be DEEP...
Further I think many of those that called bottoms on the Naz... are doing similar on the Dow S&P 500, it's a "quality-index"... "these are fine companies, buy them cheap"-NOT!
The overhangs of debt/dying industries/and too much supply vs interest of ownership in general equities remains...
If you are long be thankful for the enthusiasm of others... you don't have mine.
If you are a Bear... be agressive while ye may... GET SHORT!
:)
dv
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