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I think all base counts were reset on Aug. 8, 2011 when the NYSE dropped 21% from its high of 8728.25 on 5/6/2011.
Does anyone agree?
Jerry, I am just one year into IBD, but I believe you are correct.
No. You can't just pick one index that fell below 20% and declare a bear market that resets all base counts. To reset the base counts for all stocks, the US Stock Market must be in a bear market. Generally, it is obvious that we are in a bear market - multiple indexes are down and usually by more than just 21%. I would like to see the indexes that lead the bull market be the ones that lead the bear market - that would be the NASDAQ.
Do to market complexities, market followers will use different definitions of a bear market. So there is some disagreement over when the bear market starts. About the only thing they do agree upon is the 20% value. The disagreement comes into which indexes, how many days from the start of the downtrend, and even the number of days spent below the 20% value. But if it is deep enough it becomes obvious and everbody agrees. Personally, I don't think we have hit that point yet. But, you can beleive whatever you want, I will not disagree with you.
The easiest way is to wait for IBD to announce it in the Big Picture.
I'm not sure if you will ever see this but I am responding to a comment you made re: Scott O'Neil's blog post dated 9/23/11 discussing the breakdown of the last attempted rally and uptrend. You mentioned an interview with WON re: base resets from 2007. How do I find this interview? Thnx. Brad
That wasn't my post. But you can find those interviews on: http://www.tfnn.com/ibd.php .
Brad ..That was my post any other questions? I saw your your post re contacting others on MS--reply there
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