Facebook FB Daily Chart MIRRORS the 1987 Stock Market Crash

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Fascinating comparison: I'll publish the 1987 Stock Market Crash Next so you can see how similar they are. I thought I would get this out before I figure out the perfect way to publish it.

I have a way with remembering chart patterns, and I especially remember this one.
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Hi Tim, Thank you for the great work, I am learning a lot. How can you measure a time range on a predicted price target as the one you have on your chart?
timwest DJCYStocks
Note the link to the 1987 stock market crash and the nearly IDENTICAL price charts showing that there are nothing but longs in the stock with stop orders below the price. A stampede of this magnitude will often reverse itself in 25%-33% of the time that it took to create the up-move. It basically collapses on itself. I didn't want to predict a massive, ultra-fast meltdown, but I think it will be fast if it can go under the key support levels and put the balance of pressure on the longs. For now though, if the price is above the 57.50 then FB is in control by the longs. Note there are no daily highs below 57.50 since the last earnings report. So, the time forecast is basically 25%-33% of the time of the advance projected down. This is a patttern that you can find only once every few years, so there aren't a lot of examples of it. It is an Elliott Wave pattern called a diagonal-triangle-terminal as penned by Glenn Neely of NeoWave of "Mastering Elliott Wave". You can read all about it in his book. It is a serious textbook, not for light reading. Thanks for the question.
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Note how FB rejected at the Earnings Range - a valuable level of key resistance -

But this is not exactly the same wave
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2use raitonryu
Wow, how do you get this chart? Don't tell me its not automatic and you add all manually?
well I added all of them ... manually (and saved as a template) and every time i run this template my laptop begin to run faster ;)
raitonryu raitonryu
But i think it another way to look at the market, My point of view is that market make wave and we are surfer who try to ride on it , our goal ride the biggest wave possible, we call them tidal wave
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It does look like the endl of a big wave
But waiting for an explosion in volatility before riding the wave .
raitonryu raitonryu
timwest raitonryu
I like how similar and comparable they are. If anything, FB is weaker than the S&P500 was in the drop off of the high in 1987. Notice the lower 20 day BB fell under the long term moving average (in white) sooner.
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