“History Doesn't Repeat Itself, but It Often Rhymes” – Mark Twain
I've been noticing similarities between the Great Depression and the current market. Both were proceeded by parabolic ascents, and both had steep tops. The descent from 1929 to 1932 is shown in gray. Key support levels are marked in green. Two laddering strategies are shown with suggested percentages of investment based on initial cash available.
Do I think this will play out? No. The Fed will cut rates and start a new round of QE long before the price ever gets to 800. If, however, there is a Black Swan event, the impossible could become possible. I do see 1600 as possible and 2200 as probable, given the current fundamentals. My target for the end of the year is 3000.
Best of luck traders.
Tips:
ETH: 0x13cd45d7d282ee0ee4635645cce2e2a566d9bed8
I've been noticing similarities between the Great Depression and the current market. Both were proceeded by parabolic ascents, and both had steep tops. The descent from 1929 to 1932 is shown in gray. Key support levels are marked in green. Two laddering strategies are shown with suggested percentages of investment based on initial cash available.
Do I think this will play out? No. The Fed will cut rates and start a new round of QE long before the price ever gets to 800. If, however, there is a Black Swan event, the impossible could become possible. I do see 1600 as possible and 2200 as probable, given the current fundamentals. My target for the end of the year is 3000.
Best of luck traders.
Tips:
ETH: 0x13cd45d7d282ee0ee4635645cce2e2a566d9bed8