Its Over, page-12687

The Ciovacco video I posted yesterday illustrated rather clearly what a downtrend looks like.

Last night, I indicated that it is only with hindsight that we can see how lower lows and lower highs pan out over time. Now look at the DAX experience after the end of the dot.com boom. So many bear rallies of decent sizes but progressively it led to lower lows.
Not great for Buy and Hold investors, in fact a disaster but could be alright for traders but only if they know how and when to sell, a little late in doing that and you could be easily trapped.  Bear rallies are frustrating because they lead people on , this is why Buy the Dip can be painful in a bear market.