That's the thing. Somewhere there has to be a point where the market reveals that this is a wave 3 up and not a wave "C" up. I think the dynamics favor the 3, and thus the 275 point COMP drop is my favored post March.
Most of what I've looked at lately seems to validate the drop into 2002 as a major low and possibly the bear market price low. I'm willing to consider all possibilities, but that is another factor in my thinking going forward.
The bubble aftermath pattern is another reason for that view, but I understand we diverge in our opinions on that.
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