Well said YT. If people like barrel are going to contest a call, the least they could do is put up some analysis of their own.
Martis, are you concerned that our market has tried four times since the beginning of 2010 to penetrate the midpoint (50%) of the highs to the lows of the GFC (~XJO4970), and each and every time that area has been rejected?
When a stock runs and then retraces, it is considered technically strong if the 50% retracement level holds up. On the flipside, and still using this above train of thought, I think it would be fair to say on a long term front that the XJO is still moreso on the bearish side of things until that region is broken and then backtested successfully.
