12/1/08
Officially Recession has been announced by NBER that start the seasoned rally year end month with bloody selloff of 680 points on Dow. As the chart on the left say, (also I pointed out here last week 2) That how my studies payoff and work out. That's why I said last week:"Do not get trap by the rally" Now, all of you know the reason. If the Dow 8000 got broken(very likely), it will retest the 7500-7600. Remember the market does not have to touch the same lows on 11/20/08 in order to form double bottom. However, if it does, it would means good double bottom ( general, valid double bottom usually form in between at least 2 weeks to 6 weeks timeframe) But, let's watch out below if 7500 get broken.
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