Are we there yet?
The DJIA has dropped 2700 points from my September 10 Crash Warning;
It has dropped 2400 points from Into The Abyss;
It fell 2000 points from Wave 3 of 3 of 3 Down;
And 1400 points in the four trading days since Sunday Night Observations.
The market has fallen about 25% since all these blogs of mine started, about the same percentage as the "Crash" of 1987. Enough to qualify as a Crash?
Yes, by past standards. But this time it's different.
In Elliott Wave terms, this bear market is a generation higher, one larger fractal higher then the 1987 crash. As such, we should expect this crash to be commensurately larger.
Don't know. But by the way the market has so effortlessly rejected rallies on the way down, especially this week, I am guessing we have further to go then anyone imagines. That doesn't mean there won't be rallies before the final washout lows are seen. But human psychology being what it is, I suspect those final washout lows will occur at about the time that no one cares anymore.
Not much of a road map. But probably better then all those archaic sentiment readings and oversold oscillators left over from the bull markets from whence they came. This time IS different and a new way of looking at the stock market is being born of these miserable times.
Miserable, that is, only if you are Long.