This chart was posted on May 26th (Click Here) ! I am reposting the chart today to show how close we are to (C') ! I had written back then that every time we will approach and kiss this red line, everyone will "HOPE" that the worst is over! We are not quite far from reaching this level (C') and I'm sure most investors feel that way. You must understand that what happens in a regular Bear market (one to three years maximum), happens also in a Secular Bear market (16 to 18 years)... the only difference is that a Secular Bear Market last more than a decade ! In a regular Bear market you have multi week counter-trend rallies, in a secular Bear you have multi month counter-trend rallies ! Countertrend rallies in all Bear Market feel good, are sharp with declining volume and take everyone by surprise! Please don't tell me that this multi month rally was not sharp with low volume, and did not not take anyone by surprise and doesn't have the characteristic of a bear market rally !
