if SPX drops 20 more points tomorrow, total loss from top to bottom will be about 100 points... That is exactly the total point loss seen during the summer massacre that took months... only this one took 5 trading days! if you call this a corrective move, you seriously in need for a TA101 as soon as possible. And no, this aint 90s!
there is a significant meaning of that %96.7 down/up volume day for the long term, i suggest you to do little research on this instead of getting sentimental about sentiment that can be very deceptive when used by amators like some blogger that got it hard way lately. I have only seen a few people using sentiment professionally, one of them is the owner this site who is also top rated by timer digest, jason goepfert is another one.
in short, i am not saying we will not bounce, of course it will eventually happen, i think even the test of the highs or marginal highs possible over the intermediate to long term (if we dont crash next week), just like 2000 but it will first take some bottoming and digestion before it happens.
Edited by xD&Cox, 04 March 2007 - 02:54 PM.