Replies to post #53384 on WEALTH UNIVERSITY

[Profe$$or]

I'm not saying that we're in a new bull. By no means understand.

However...an argument can be made for a capitulation market reversal and the low put in based on yesterday's action.

A 900 point intraday swing..almost a 12% turn around...which historically matches most major market bottom turn arounds. That's the first big positive sign that cannot be ignored.

Number two...big big volume. 2 billion in volume. You can't dismiss that arbitrarily.

Number three...sentiment...horrible consumer confidence...stark naked fear of the market and our situation...big time doom and gloom coming from everyone...which is also something that I like to see. Big contrarian indicator and I've been around awhile.

Now..we could test that again..possible...but I think we work on trying to put in a bottom now...and do some base-building and repoair work...we could stay under 10,000 on the DOW easily for another year and a half. Yesterday's move was a significant one

I think the next bull starts sometime in 2010