Bear Market Rally

Pls see below that after a waterfall crash like the in 2008 or 1929 a bear rally can easily run 22 (would translate into early AUGUST 2009) weeks and gain 48% (achieved).

In 1930 this was exactly the time when sentiment remembered the preceding bull and believed that the crash was just an anomaly and that the NEW DEAL, Bail outs & FED had regained control.

Even speculation and leverage was returning..........

It all reads like the textbook Elliott Wave description of a WAVE 2 aka. "THE PHONY" .

We don't know how long this one will run from a timimg perspective, but we do know that a correction followed by another surge or a deep dive from here are both within the realm of possibilities.