Hey all,
I'm sharing this chart, and am about to share a few more to get by my idea that this is a market crash, not a pullback.
I've long tried convincing people that this is a market crash and not some short-lived correction that will suddenly see a V-shaped recovery; I would always repeat the phrase: "Crash, not a pullback." One of the main reasons for why this is is all the large-cap, market-moving names have fallen, and instead of accumulating, or creating a base before moving higher, virtually all rallies have faded, short-lived, and underwhelming. ADBE is a perfect example of this. It created a distribution pattern at the top, has been plagued with bad news, and can't seem to find a bottom. The Adobe's of the world have to accumulate before we ever go higher. These things happen across the board during market crashes(or end-of-cycle bear markets), not during corrections. I remain of the opinion that the closest market you will find to the one we are currently in is 2000, though the key difference is the pace at which we are falling.
I'm sharing this chart, and am about to share a few more to get by my idea that this is a market crash, not a pullback.
I've long tried convincing people that this is a market crash and not some short-lived correction that will suddenly see a V-shaped recovery; I would always repeat the phrase: "Crash, not a pullback." One of the main reasons for why this is is all the large-cap, market-moving names have fallen, and instead of accumulating, or creating a base before moving higher, virtually all rallies have faded, short-lived, and underwhelming. ADBE is a perfect example of this. It created a distribution pattern at the top, has been plagued with bad news, and can't seem to find a bottom. The Adobe's of the world have to accumulate before we ever go higher. These things happen across the board during market crashes(or end-of-cycle bear markets), not during corrections. I remain of the opinion that the closest market you will find to the one we are currently in is 2000, though the key difference is the pace at which we are falling.