Are all bear markets the same? If there's a clear signal when to start buying why isn't everyone doing it?
To me technical analysis of the stock market is the modern equivalent of a shaman predicting next year's harvest. It sounds very convincing but there's little scientific evidence that it can predict anything accurately.
I'm not saying everyone is rational, I'm just saying there is no reliable way of predicting when the market has bottomed out.
DCA-ing on the way down means I will at least buy lower than a year ago. I have no way of knowing when we will bottom out, or if it will be -25%, -30% or -50% and beyond.
To me technical analysis of the stock market is the modern equivalent of a shaman predicting next year's harvest. It sounds very convincing but there's little scientific evidence that it can predict anything accurately.