Short Term Trading Week Starting: 22 Oct, page-87

Originally posted by Freehold

I concur... expecting several weeks minimum if minor correction 10% is what we are getting.... and few months if a wholesale collapse ie 30-50% down.   Usually these things take a breather  (sideways or slightly up) for 5 to 10 days before next big leg down and so the pattern will repeat until we bottom out. Hence moving averages are a good and clear indicator here. I use a 10 and 30d EMA  on the daily indicies charts when the 10 cross above the 30 then usually we are done. Although if US DJIA, SP500 RUT and TRAN cross below their 200d SMA then officially in bear market  IMO. 

Worst case scenario is a slowly declining market which drags on ...on ... slowly ...if we are to sell down then  selloff hard and quickly  because its quickly and its over and done with and we can resume normal trading.  

All in the STT Library.   If your twiddling your thumbs waiting then perhaps a good use of time is a reread it.

World market action seems to be playing pretty close to what I expected  2 weeks ago in this post above with 5 to 10 days between down legs... Fairly A typical for sharp corrections IMO ... For those not experiencing one before I would not move until the 10d ema  has crossed back up above the 30 EMA on the US  SP500 and & DJIA. The more aggressive types may move on the 10d EMA starting to rise.