Classic stages of a breaking market: 1915 and 1920.

TVC:DJI   Dow Jones Industrial Average Index
The crashes of 1915 and 1920 are little know of, falling into the shadow of the 1929 crash and following downtrend as the depression kicked in but at their time these were the two biggest market events. The 1915 crash being related to the war and the stock market being closed down in the 1920 panic. These would be forgotten about at the time as the market went into the "Roaring 20's" (A decade long rally that extended about 500% from the low of the 1920s crash). And forgotten about in history because if the far more significant event after the decade rally.

Looking at the broad structure of how the crash formed it came in three main sections;

A head and shoulders like top.
Breaks followed by fast corrections and range.
After a few of these dives and fast rallies, the market enters clear downtrend.

A main differentiating factor from the crashes of 1915 - 1920 is the rallies were a bit shallower and the moves quicker. This would seem logical in the difference with the depth of the markets. Other than that, the main key swings are the same.

Both of the major highs in these crashes came around the 161 of the false crash before it.

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