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Examining historical precedent, I look back at the late 70s which may give us some clues as to what to expect in the current market. For insight, I find that I need to ask and answer my own questions about Price, Volume and Duration of each trend. Some important questions that have boosted my confidence recently have been:
1. What is the shortest period of time between 20+% corrections?
2. How many months between the 1974 low and the 1978 low?
3. Following 13 years of consolidation, was the Summer & Fall 1980 burst out to new highs similar to the 1919 burst out to new highs?
4. How many months did the 1919 burst to new highs last?
5. How many months did the 1980 burst to new highs last?
6. Did large cap, mid cap or small cap stocks lead the charge in the 1980 burst?
7. Would it be reasonable to expect a six or seven week sell off and then a burst to new highs in the current Market?
Seven excellent questions Abe! I await your wise answer! I'll go back and look as well. Thnx. Brad
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