I am a little tired of buying this falling market. The fact is that I did not know where the fall would end. It might have ended on Monday, or make new lows and the bear market rally thesis would still have been intact.
However, the moment of truth is very close. I still think that a big multiday rally is just around the corner. The Ben Bernanke speech today might offer some excuse for such a rally.
In the mean time, here is a similar situation from 2010. The market rallied after making new lows, but it took a few days.
Back then the bottom took place a few days before a NFP report. If today will prove to be a turnaround Tuesday, we may finally see the bottom.
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