Dislikedfundametally you are absolutely correct, BUT technically that whole concept is shaded for Gann and Elliot has proved tthat a market any market must move in cycles or waves from smallest to largest degree's. Yes had u bought in 2000 you are a big winner and would of been liquidating im sure at least some into the lt rally, only to be be adding to your positions down here or lower. yet at this level one cannot know for certainty of a coninuation from here or more declines to fullfill the larger degree of pattern.Ignored
What do you think?
The market can stay irrational, longer than you can stay solvent.