This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
The market was stretched several times much further below the mean on declines, meaning this is not the most it's been stretched in 30 years. Markets can stretch below a mean both to the upside and downside and clearly if this market is now going to stretch to the upside equivalent to the more extremes we had in the past to the downside, it clearly has a lot further to go. Look for a top at about 1823.
I would argue that there is more panic in bear markets so you would expect bigger stretches on declines
...on the other hand we have never seen a market like this before ,with co-ordinated Central Bank intervention on a massive scale.