This Bear Market is over! Like I said in this post the bear is over. The market has transitioned into a new bull, but nobody believes it. Two weeks ago capitulation was the name of the game in the world's indices. Don't forget - we have just survived the 2nd worst Bear Market in history. That's a hell've an accomplishment for all the traders on the thread. Think about it! Other than the Great Depression, this was the worst.
That stage is over.
Everybody who wanted to sell has sold. Shorts are now covering which will put even more fuel on the fire. Pretty soon it will be time to figure out which sector will lead in this new bull market. That time is not yet upon us.
What we need now is a period of quiet consolidation and digestion of the gains this week while the market continues to move slowly upward.
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