I will repeat what i have said before, The MOOD of the average investor RULES the stock market(longterm). From 1966 to 1982 the MOOD of the average investor ruled the stock market, (and it was depressed).
Smart-Money MUST predict average investor behavior.
I will repeat, the FINAL bottom will not be reached until a historical pattern is fulfilled, and that will not be measured by TA, but by the moment that Fundamental Bear Market evaluations have been acheived--we are not there yet,at all,imo.
And parallel to that we will want the Consumer Confidence present expectation number to be below 60,imo.Max