There are many differences between now and then (Federal reserve, quantitative easing, negative interest rates) but these charts look eerily similar
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The % drops are very similar!
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Right on track but the timing is a little off. A good catalyst for the drop would be Trump losing the election... though can't imagine who could beat him. Bernie, Yang, or Tulsi would have fighting chances.
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Despite the Coronavirus outbreak this market pushes higher. I thought the Coronavirus could be a catalyst, but I guess not... yet.
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It looks like the Coronavirus is the catalyst. Targets are Dec 2018 lows, 2016 election levels, and worst case 2012 highs.
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Limit down on everything... it's about to hit the fan! Buckle your seat belts (and fasten your masks!)
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Bouncing but this won't last long. I expect a peak next week if it hasn't peaked already.
Well, back in 1929, the Fed wasn’t as involved in the markets as they are now with billions of dollars in QE. The pain is only going to get worse as the stock market is a monster compared to 1930s.
jayachandran
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A hug for you hard work and presenting it here :) love from India :)
gata9aigata9ai
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Whoops. Your call was correct but you are assuming that the stock market is a free market. It's not. It's a managed market. We are headed to new all-time highs mate. Coronavirus was entirely manufactured and a much-needed refueling stop. 100% orchestrated. We are now heading to Nasdaq 12,000 EOY. Buckle up.
gata9aigata9ai
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@gata9aigata9ai, Something people refuse to acknowledge is that the government has the absolute power to move markets in any way it desires. It doesn’t need to stop at 2T. It can inject 20T or 200T if it wants to. It costs them nothing to create any amount of money they choose to. My guess is that further decimating Americans’ 401k’s and bankrupting retirees is not a strategy that Trump wants to try out on the upcoming election.
PapaOfFour
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That’s what I was saying this morning. My question is, once the mass populous works out it isn’t a free market, but a rigged game, will they want any part of it? Will we sell off in the realisation that the markets do not reflect reality.
We have all known this for a long time, but Joe on the street hasn’t. They have suspected it, they have shouted about it as a suspicion, but they haven’t really been certain about it until now. When I say certain, I mean on mass.
PapaOfFour
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I guess what I am saying is, if Americans on mass realise they are forced to put more into the markets than they can ever get out of them, just to make sure the super rich stay rich, will they finally say enough. Adam Smith never intended capitalism to support a super class, he created it as a way to fix social problems and inequity.
ambrosia
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@PapaOfFour, It is not capitalism but the FED and manipulation that has created the super rich and widens the gap between the rich and poor.