Why has the market failed to bounce (or bounce much, anyway) ?
My guess is that everyone is calling for a bounce.
Technicians, value players, macro-economic observers, traders have by and large been looking for a bounce (present company included). Me, Jim Cramer, Cody, Bob Carver, Dick Arms, BCA, John Roque, and many many others all asked for a bounce.
Hence, we didn’t get it.
A few people deserve credit for not guessing the bottom: in particular, Alan Farley and James Rev Shark DePore.
BCA ran this chart:
A Technician friend sends this chart along:
Until we get more disbelief, there will likely be no bounce . . .