monday mess, page-21

Treggs

I'm a bear as you know but let's not jump out of tall buildings yet - XJO still hasn't traded below Friday's Lows yet.

I still think a relief rally is expected on Wall St. - maybe even tomorrow night or very soon thereafter. That's the good news in the short-term.

The bad news in the long-term is that this selling today and Friday is nothing near what capitulation looks like! Until that happens (months or even years away perhaps) we are in the grip of the bear I fear.

If you give any credence to to Dow theory, I think we are in a Primary Bear Market which hasn't even really seen the major relief rally that makes a major lower High yet.

Just my thoughts.

Regards

- HBG

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Trade the market you see - not the market you hope for!