The five day down pattern

Posted on Dec 07, 2013 by in Letters

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=8&dy=0&id=p57309614995&a=266398464

Analysts know that -- in general -- five days down is a buy on the close of the fifth day down.  Ever slow of foot we got some of it and missed some of it clumsily moving money around amongst accounts.  Friday's explosion should put paid to the sell off, which doesn't even qualify as a wave -- and maybe not even as a wavelet.    It might quiet anxiety as to fears of a severe correction -- or downwave.

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