MagooI don't know exactly what capitulation will look like, or...

Magoo

I don't know exactly what capitulation will look like, or even if we will experience it before a market turn.

If capitulation occurs we could expect panic selling on a wide scale, together with the mainstream media declaring the beginning of a major recession or even a depresion.

Think of the signs of a major top: cab-drivers and your mother-in-law giving unsolicited stock tips. Indescriminate panic buying with no rational thought being given to whether the stock deserves to be bought at those levels. Greed evident everywhere. Feelings of invincibility amoungst traders and investors.

Capitulation might look like the opposite of that.