I have been saying that 2018 was going to be a bear and that the Feb lows needed to be tested. They were but there was no panic. Still buyers. I believe this is nail on the head here. Sideways is the worst form of market and we are right in the middle of it.
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Indeed, there was not that much panic. Just a slow grind to the bottom. The bottom is not always in the form of a huge red candle on high volume, it could be a rounded bottom. In general, I think the bottom is a process and we are in the process of forming a bottom ever since capitulation in Feb, as per Wyckoff.