My indicators are at some of the lowest levels possible. Only the 1987 decline reached a lower level on the Worden T2108 indicator than the 4% reached on Monday. In the three years of my blog, I have never found that anything near 2,000 stocks in my universe of 4,000 stocks hit a new 52 week low. There were 21 new highs and 2119 new lows on Monday. Only 3% of the Nasdaq 100 stocks closed above their 30 day averages. Monday may have been the low for this bear market, but we must wait to see if it holds. Bear market bottoms are usually retested several times, so we must wait until the market reveals if we have reached a true bottom. Meanwhile, Monday was the 25th day of the current QQQQ short term down-trend. (This short term down-trend occurs within a longer term down-trend.)
Thank you to the many readers who sent comments about how this blog has helped them to avoid losses during this decline. I am inspired by your commitment to managing your funds during these tough times.
I want to add my thanks to you for your sharing of your experience, wisdom and efforts. I have been following you daily for about 2 years and have gained some smarts and saved and made some money, I salute you for your unselfish sharing of your experience and your work product. In ‘these times that try men’s souls’ you are indeed a lighthouse that can be watched to guide one away from the rocks.
Thanks again._Joe