Always the contrarian, instead of expecting further strength in the market, the bearish BMO technician who last week predicted that a retest of the December lows now appears inevitable, Visch reminds his clients that the short covering rallies that occurred last Fall averaged 7 sessions with an average trough-to-peak gain of 7.28% “so if that’s any guide we’re right in the zone where this latest surge should begin to run out of steam.”
