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[spielchekr]

These are historgrams that show each ema, 1 through 200, on a given day. Excel calculates the r² for the curve of the histogram.

The current market is making no exception in behaviour. By my rules for this indicator, once the short term side of the chart (left side) breaks below the r² flatline (r²=0), a bear market is confirmed.

Since that occurance, we've had an r² bottom:




reversing the direction of the curve back up to a flatline:




which in typical bear-market fashion was NOT exceeded and in fact rejected. We are now decending once again on the short term side:




Folks, it's a long way to the final bottom here. Take care, and Happy Thanksgiving.