Not to harp on this fact....However, for those members that are not closed minded on this subject and want to know more Here is more info displaying the FACT that yesterday's reversal was a coordinated event based on specific technical paramaters...
Here is a statement made by the Former head of Fidelity Capital Markets...after the close on 1/15/2007 when the SnP was still trading above 1380, (and at that point new lows for the year)
"While the rallies in this bear market will be sharp, the odds favor a decline to at least the .382 retracement zone at 1268 (1576-769), which is -19.5% from the 1576 high."
Eight days later...the SnP bottomed at exactly 1268.4 ...before rallying to close over 5% higher above 1340!!
Last edited by JRH; 01/24/08 03:05 PM.
