putting the rally in perspective

[Warrior4g]

just ranting but an interesting tidbit for some of the newer traders. the nasdaq's strongest days were during the 2000-2002 bear market. these rallies make people feel good and suck them in as wall street decares a bottom;it rarely is. be careful and do not hold long positions thinking the bottom was made yesterday.

 

[jwcapital]

Relief rallies are sharp and quick; so, I agree with the opening statement. If I were fortunate enough to have been long on Tuesday, I would have reached my target and profited. In a bear market, when I enter a trade going against the trend, I keep it in for one day, and close it out EOD, no matter what. I think that once 1400 is broken, then we can believe that the major trend is upward again. Some are suggesting 1345 as a pivot, even the range of 1345 to 1390.