The thing is, being long at the July 2002 lows was a good risk/reward. The July lows were about 869 NDX (re-test in 8-5-2002 was 856) while the Oct. lows were 795. The Jan. 2003 highs were 1104 NDX.
The other thing is the NASI made a higher low in Oct. 2002 than the July 2002 lows. Also, from June 1 through July 23 there were not more than 2 consecutive days with higher highs.
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