off to the races ...well sort of

So how does the sell off end and how does the rally start ? Unlike the huge oversold bounces of the previous decade the current decade has hard sell downs under low volume, little or no capitulation, followed by a rapid re-flation of equities values under steady volume. The key is no one calls the bottom and stocks are up 20-30% by the time anyone realizes the party has already started. The up motion of the market is characterized by a subtle shift from sellers to buyers and a slowly and steady building volume .