Michael and I did this thing to answer all of the commentary surrounding the 8% or so bounce since the 12/24 lows for the S&P 500.
There are a lot of takes out there stating definitively that the Christmas Eve crash (followed by the 12/26 1,000 point Dow rally) cannot possibly represent the bottom because it’s pattern doesn’t look “textbook” – what we’ve shown is that there is no textbook bottom. It’s never the same. If it were as simple as pattern recognition, everyone would recognize the bottom in real-time.
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