Blog Post: The decline in $SPY is small compared with those in 2000 and 2008, and the monthly stochastic is nowhere as oversold as occurred at major bottoms, see monthly chart

Indicators

  • GMI: 0/6
  • GMI-2: 3/8
  • T2108: 22%

This is a monthly chart with a 25.4 and 25.4.4  stochastic. The 25.4 stochastic is currently at 39.04, but the 2003 and 2009 bottoms occurred  with readings below 20.  This down-trend actually appears minor compared with those declines and  may have a ways to go. Why try to guess a bottom or catch a falling knife when one can rest calmly on the sidelines? This chart shows that there are years to ride the new bull after a new up-trend has been established.

The GMi is back to 0 (of 6) and on a RED signal.

The post Blog Post: The decline in $SPY is small compared with those in 2000 and 2008, and the monthly stochastic is nowhere as oversold as occurred at major bottoms, see monthly chart first appeared on Wishing Wealth Blog.