I don't know why we have to compare exactly to 2014~15 bullrun. At that time, the bullrun was very fast and sharp incline, which led to quicker bear. The bullrun that just ended was longer and a more steady growth, which will lead to a longer bear. In 2018, look how many lower highs were created. I enjoyed your info, but comparing exactly to the 2014~15 bullrun is not correct
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Also where is the capitulation?
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November 2018
Nah. I don't think that was capitulation.
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There us still too much hopium. That has to die out before a phase to start
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I'm just using the technical analysis definition of that move - Gann called it a 'blow off' move, Dow called it a 'panic phase' - its all indicative and evidence of a capitulation move and specifically in Dow Theory and Gann Theory, these moves are the final moves in a bear market.